Filed March 6, 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 | $152,006 | $114,712+32.5% | $173,730-12.5% | $87,485+73.8% |
| Participation rate | 65.1% | 73.0%-7.9pp | 79.6%-14.5pp | 68.9%-3.8pp |
| Annual return | 16.54% | 20.18%-3.6pp | 19.96%-3.4pp | 26.06%-9.5pp |
| Employer contribution / active EE | $3,081 | $2,904+6.1% | $4,577-32.7% | $2,596+18.7% |
| Participant deferral / active EE | $5,772 | $4,642+24.3% | $6,326-8.8% | $4,274+35.1% |
| Admin fee / account holder | $2,558 | $10,210-74.9% | $17,523-85.4% | $7,775-67.1% |