Filed March 20, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,597 | $102,385-67.2% | $147,080-77.2% | $80,935-58.5% |
| Participation rate | 42.2% | 75.9%-33.6pp | 82.2%-40.0pp | 67.7%-25.4pp |
| Annual return | 8.75% | 135.09%-126.3pp | 420.17%-411.4pp | 35.66%-26.9pp |
| Employer contribution / active EE | $0 | $3,717-100.0% | $4,933-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $2,589 | $6,651-61.1% | $8,066-67.9% | $4,299-39.8% |
| Admin fee / account holder | $42,331 | $7,951+432.4% | $12,989+225.9% | $6,924+511.3% |