Filed August 15, 2022
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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 | $63,231 | $41,377+52.8% | $109,313-42.2% | $62,881+0.6% |
| Participation rate | 64.7% | 57.5%+7.2pp | 71.3%-6.6pp | 69.3%-4.6pp |
| Annual return | 6.06% | 11.05%-5.0pp | 22.07%-16.0pp | 20.14%-14.1pp |
| Employer contribution / active EE | $1,608 | $1,276+26.0% | $3,892-58.7% | $2,281-29.5% |
| Participant deferral / active EE | $3,792 | $2,045+85.4% | $3,166+19.8% | $3,203+18.4% |
| Admin fee / account holder | $11,111 | $2,884+285.3% | $5,666+96.1% | $4,296+158.7% |