Filed April 24, 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 | $75,492 | $86,940-13.2% | $102,434-26.3% | $80,935-6.7% |
| Participation rate | 63.5% | 72.4%-8.9pp | 76.5%-13.0pp | 67.7%-4.2pp |
| Annual return | 11.16% | 18.89%-7.7pp | 29.46%-18.3pp | 35.66%-24.5pp |
| Employer contribution / active EE | $2,469 | $2,370+4.2% | $3,023-18.3% | $2,757-10.4% |
| Participant deferral / active EE | $5,183 | $4,121+25.8% | $5,055+2.5% | $4,299+20.5% |
| Admin fee / account holder | $17,829 | $8,047+121.6% | $9,462+88.4% | $6,924+157.5% |