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 | $106,012 | $59,448+78.3% | $93,696+13.1% | $74,459+42.4% |
| Participation rate | 49.5% | 59.6%-10.1pp | 68.7%-19.2pp | 67.2%-17.7pp |
| Annual return | 11.74% | 82.11%-70.4pp | 133.74%-122.0pp | 1369.70%-1358.0pp |
| Employer contribution / active EE | $484 | $1,266-61.8% | $2,422-80.0% | $2,626-81.6% |
| Participant deferral / active EE | $2,651 | $3,052-13.1% | $4,417-40.0% | $4,350-39.1% |
| Admin fee / account holder | $4,285 | $3,027+41.5% | $8,287-48.3% | $1,945+120.3% |