Filed May 6, 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 | $64,105 | $41,377+54.9% | $109,313-41.4% | $62,881+1.9% |
| Participation rate | 51.4% | 57.5%-6.1pp | 71.3%-19.8pp | 69.3%-17.9pp |
| Annual return | 6.83% | 11.05%-4.2pp | 22.07%-15.2pp | 20.14%-13.3pp |
| Employer contribution / active EE | $1,048 | $1,276-17.9% | $3,892-73.1% | $2,281-54.1% |
| Participant deferral / active EE | $3,022 | $2,045+47.8% | $3,166-4.6% | $3,203-5.7% |
| Admin fee / account holder | $17,088 | $2,884+492.5% | $5,666+201.6% | $4,296+297.8% |