Filed July 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 | $27,502 | $57,352-52.0% | $83,830-67.2% | $64,173-57.1% |
| Participation rate | 67.6% | 68.6%-1.0pp | 76.1%-8.5pp | 69.6%-1.9pp |
| Annual return | -9.07% | 11.38%-20.4pp | 850.97%-860.0pp | 7.63%-16.7pp |
| Employer contribution / active EE | $1,691 | $2,546-33.6% | $3,631-53.4% | $2,381-29.0% |
| Participant deferral / active EE | $3,611 | $2,993+20.6% | $4,082-11.5% | $3,470+4.1% |
| Admin fee / account holder | $4,406 | $4,046+8.9% | $5,479-19.6% | $4,887-9.8% |