Filed July 19, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $50,102 | $138,393-63.8% | $184,256-72.8% | $80,959-38.1% |
| Participation rate | 48.2% | 83.9%-35.7pp | 86.8%-38.6pp | 67.7%-19.5pp |
| Annual return | 19.03% | 20.01%-1.0pp | 28.85%-9.8pp | 35.67%-16.6pp |
| Employer contribution / active EE | $1,502 | $4,847-69.0% | $6,427-76.6% | $2,757-45.5% |
| Participant deferral / active EE | $3,175 | $7,076-55.1% | $9,133-65.2% | $4,300-26.2% |
| Admin fee / account holder | $2,710 | $10,489-74.2% | $13,899-80.5% | $6,925-60.9% |