Filed October 21, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,072 | $93,057-64.5% | $153,500-78.5% | $80,925-59.1% |
| Participation rate | 42.0% | 69.0%-26.9pp | 77.1%-35.1pp | 67.7%-25.6pp |
| Annual return | 13.92% | 19.96%-6.0pp | 15.70%-1.8pp | 35.65%-21.7pp |
| Employer contribution / active EE | $1,151 | $3,507-67.2% | $5,039-77.2% | $2,756-58.2% |
| Participant deferral / active EE | $3,071 | $5,179-40.7% | $6,756-54.5% | $4,299-28.6% |
| Admin fee / account holder | $1,383 | $8,885-84.4% | $12,736-89.1% | $6,940-80.1% |