Filed April 26, 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 | $97,119 | $67,606+43.7% | $82,313+18.0% | $70,124+38.5% |
| Participation rate | 54.9% | 72.8%-17.8pp | 76.9%-21.9pp | 69.5%-14.6pp |
| Annual return | 17.15% | 21.57%-4.4pp | 25.88%-8.7pp | 73.14%-56.0pp |
| Employer contribution / active EE | $1,322 | $1,755-24.7% | $2,428-45.6% | $2,342-43.6% |
| Participant deferral / active EE | $2,373 | $2,987-20.6% | $3,706-36.0% | $3,332-28.8% |
| Admin fee / account holder | $1,553 | $4,512-65.6% | $5,608-72.3% | $4,645-66.6% |