Filed January 3, 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 | $40,012 | $57,119-30.0% | $85,187-53.0% | $80,935-50.6% |
| Participation rate | 59.3% | 56.4%+2.9pp | 67.5%-8.2pp | 67.7%-8.4pp |
| Annual return | 16.89% | 21.70%-4.8pp | 66.67%-49.8pp | 35.66%-18.8pp |
| Employer contribution / active EE | $1,783 | $1,802-1.0% | $2,732-34.7% | $2,757-35.3% |
| Participant deferral / active EE | $3,033 | $3,115-2.6% | $4,525-33.0% | $4,299-29.5% |
| Admin fee / account holder | $3,471 | $4,990-30.4% | $6,162-43.7% | $6,924-49.9% |