Filed April 24, 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 | $24,306 | $75,828-67.9% | $147,617-83.5% | $59,632-59.2% |
| Participation rate | 56.8% | 71.6%-14.7pp | 84.6%-27.8pp | 68.7%-11.9pp |
| Annual return | -1.93% | 0.37%-2.3pp | 61.98%-63.9pp | 2041.32%-2043.2pp |
| Employer contribution / active EE | $396 | $3,485-88.6% | $5,565-92.9% | $2,203-82.0% |
| Participant deferral / active EE | $2,830 | $3,130-9.6% | $4,895-42.2% | $3,192-11.3% |
| Admin fee / account holder | $1,255 | $5,985-79.0% | $11,611-89.2% | $4,297-70.8% |