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 | $38,166 | $46,697-18.3% | $117,529-67.5% | $68,490-44.3% |
| Participation rate | 25.8% | 56.8%-31.0pp | 70.6%-44.8pp | 67.9%-42.1pp |
| Annual return | -16.28% | -14.52%-1.8pp | 29.77%-46.1pp | -7.85%-8.4pp |
| Employer contribution / active EE | $572 | $1,506-62.0% | $4,179-86.3% | $2,597-78.0% |
| Participant deferral / active EE | $1,581 | $2,637-40.0% | $4,072-61.2% | $4,028-60.7% |
| Admin fee / account holder | $995 | $4,023-75.3% | $5,645-82.4% | $5,403-81.6% |