Filed September 28, 2023
Total covered: 3 employees
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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 | $46,435 | $61,660-24.7% | $80,022-42.0% | $64,173-27.6% |
| Participation rate | 42.4% | 71.7%-29.3pp | 75.8%-33.5pp | 69.6%-27.2pp |
| Annual return | 0.00% | -0.33%+0.3pp | 11.22%-11.2pp | 7.63%-7.6pp |
| Employer contribution / active EE | $558 | $1,810-69.2% | $2,468-77.4% | $2,381-76.6% |
| Participant deferral / active EE | $1,407 | $2,968-52.6% | $3,686-61.8% | $3,470-59.4% |
| Admin fee / account holder | $4,580 | $5,417-15.5% | $6,521-29.8% | $4,887-6.3% |