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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $58,781 | $72,269-18.7% | $101,271-42.0% | $79,852-26.4% |
| Participation rate | 68.8% | 68.5%+0.3pp | 75.8%-7.1pp | 69.6%-0.9pp |
| Annual return | 23.09% | 22.29%+0.8pp | 46.48%-23.4pp | 31.72%-8.6pp |
| Employer contribution / active EE | $1,984 | $2,692-26.3% | $3,660-45.8% | $2,471-19.7% |
| Participant deferral / active EE | $4,830 | $3,282+47.2% | $4,371+10.5% | $3,740+29.1% |
| Admin fee / account holder | $3,698 | $4,401-16.0% | $5,948-37.8% | $5,306-30.3% |