Filed January 17, 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 | $29,512 | $42,917-31.2% | $60,899-51.5% | $68,495-56.9% |
| Participation rate | 60.0% | 66.8%-6.8pp | 73.1%-13.1pp | 67.9%-7.9pp |
| Annual return | -19.39% | -13.99%-5.4pp | 16.92%-36.3pp | -7.84%-11.5pp |
| Employer contribution / active EE | $1,663 | $1,979-15.9% | $2,702-38.4% | $2,596-35.9% |
| Participant deferral / active EE | $3,287 | $2,867+14.6% | $3,817-13.9% | $4,028-18.4% |
| Admin fee / account holder | $1,003 | $3,102-67.7% | $3,225-68.9% | $5,403-81.4% |