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 | $90,627 | $59,220+53.0% | $96,572-6.2% | $79,389+14.2% |
| Participation rate | 45.6% | 61.9%-16.3pp | 69.8%-24.2pp | 70.7%-25.1pp |
| Annual return | 13.04% | 27.08%-14.0pp | 37.79%-24.7pp | 116.89%-103.8pp |
| Employer contribution / active EE | $713 | $1,216-41.4% | $2,357-69.7% | $2,428-70.6% |
| Participant deferral / active EE | $3,477 | $2,948+17.9% | $3,850-9.7% | $4,046-14.1% |
| Admin fee / account holder | $5,103 | $659+674.9% | $6,183-17.5% | $626+714.6% |