Filed July 12, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $32,773 | $28,624+14.5% | $53,647-38.9% | $82,637-60.3% |
| Participation rate | 7.9% | 47.3%-39.3pp | 56.3%-48.3pp | 68.1%-60.1pp |
| Annual return | 14.66% | 664.98%-650.3pp | 358.33%-343.7pp | 53.51%-38.8pp |
| Employer contribution / active EE | $381 | $637-40.1% | $962-60.4% | $2,552-85.1% |
| Participant deferral / active EE | $657 | $1,196-45.1% | $1,813-63.8% | $4,126-84.1% |
| Admin fee / account holder | $6,760 | $2,022+234.4% | $2,460+174.8% | $7,339-7.9% |