Filed November 30, 2022
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $64,689 | $95,453-32.2% | $112,040-42.3% | $82,448-21.5% |
| Participation rate | 100.0% | 72.8%+27.2pp | 76.5%+23.5pp | 68.1%+31.9pp |
| Annual return | 8.46% | 23.92%-15.5pp | 24.52%-16.1pp | 41.64%-33.2pp |
| Employer contribution / active EE | $8,030 | $2,318+246.4% | $2,954+171.8% | $2,551+214.8% |
| Participant deferral / active EE | $0 | $4,224-100.0% | $5,098-100.0% | $4,139-100.0% |
| Admin fee / account holder | $6,232 | $9,013-30.9% | $12,098-48.5% | $7,234-13.9% |