Filed February 27, 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 | $44,341 | $101,795-56.4% | $165,100-73.1% | $80,959-45.2% |
| Participation rate | 56.6% | 71.8%-15.2pp | 78.6%-22.0pp | 67.7%-11.1pp |
| Annual return | 11.57% | 16.73%-5.2pp | 70.21%-58.6pp | 35.67%-24.1pp |
| Employer contribution / active EE | $1,809 | $2,954-38.8% | $4,348-58.4% | $2,757-34.4% |
| Participant deferral / active EE | $3,482 | $4,476-22.2% | $6,035-42.3% | $4,300-19.0% |
| Admin fee / account holder | $2,995 | $8,221-63.6% | $12,696-76.4% | $6,925-56.8% |