Filed September 16, 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 | $114,878 | $73,787+55.7% | $98,716+16.4% | $82,448+39.3% |
| Participation rate | 54.6% | 61.4%-6.8pp | 69.3%-14.7pp | 68.1%-13.4pp |
| Annual return | 13.54% | 18.57%-5.0pp | 31.81%-18.3pp | 41.64%-28.1pp |
| Employer contribution / active EE | $1,614 | $1,511+6.8% | $2,279-29.2% | $2,551-36.7% |
| Participant deferral / active EE | $2,427 | $3,081-21.3% | $4,048-40.0% | $4,139-41.4% |
| Admin fee / account holder | $4,900 | $6,500-24.6% | $8,703-43.7% | $7,234-32.3% |