Filed July 12, 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 | $41,045 | $64,716-36.6% | $112,258-63.4% | $68,495-40.1% |
| Participation rate | 47.3% | 67.2%-19.9pp | 75.1%-27.8pp | 67.9%-20.6pp |
| Annual return | -20.77% | -11.40%-9.4pp | 27.47%-48.2pp | -7.84%-12.9pp |
| Employer contribution / active EE | $1,382 | $2,746-49.7% | $3,636-62.0% | $2,596-46.8% |
| Participant deferral / active EE | $2,546 | $3,565-28.6% | $4,728-46.2% | $4,028-36.8% |
| Admin fee / account holder | $1,567 | $5,232-70.0% | $6,411-75.6% | $5,403-71.0% |