Filed March 20, 2023
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,231 | $106,749-68.9% | $145,433-77.2% | $82,448-59.7% |
| Participation rate | 38.3% | 75.6%-37.4pp | 82.1%-43.8pp | 68.1%-29.8pp |
| Annual return | 11.68% | 27.59%-15.9pp | 66.58%-54.9pp | 41.64%-30.0pp |
| Employer contribution / active EE | $0 | $3,444-100.0% | $4,554-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $2,759 | $6,519-57.7% | $7,897-65.1% | $4,139-33.3% |
| Admin fee / account holder | $6,032 | $8,390-28.1% | $13,129-54.1% | $7,234-16.6% |