Filed February 15, 2023 (most recent of 2 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,419 | $87,834-58.5% | $133,975-72.8% | $62,881-42.1% |
| Participation rate | 66.1% | 83.4%-17.3pp | 87.1%-21.0pp | 69.3%-3.2pp |
| Annual return | 4.80% | 12.05%-7.3pp | 29.29%-24.5pp | 20.14%-15.3pp |
| Employer contribution / active EE | $836 | $3,482-76.0% | $5,211-84.0% | $2,281-63.3% |
| Participant deferral / active EE | $2,559 | $4,812-46.8% | $6,282-59.3% | $3,203-20.1% |
| Admin fee / account holder | $2,579 | $5,372-52.0% | $9,324-72.3% | $4,296-40.0% |