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 | $83,975 | $46,877+79.1% | $122,354-31.4% | $70,124+19.8% |
| Participation rate | 62.0% | 58.2%+3.8pp | 71.6%-9.6pp | 69.5%-7.5pp |
| Annual return | 17.59% | 24.22%-6.6pp | 30.28%-12.7pp | 73.14%-55.5pp |
| Employer contribution / active EE | $1,721 | $1,288+33.6% | $4,051-57.5% | $2,342-26.5% |
| Participant deferral / active EE | $4,183 | $2,167+93.0% | $3,287+27.3% | $3,332+25.6% |
| Admin fee / account holder | $10,706 | $3,324+222.1% | $5,479+95.4% | $4,645+130.5% |