Filed July 13, 2022
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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 | $94,366 | $57,140+65.2% | $85,240+10.7% | $80,959+16.6% |
| Participation rate | 20.3% | 56.4%-36.1pp | 67.5%-47.2pp | 67.7%-47.4pp |
| Annual return | 15.16% | 21.71%-6.5pp | 66.75%-51.6pp | 35.67%-20.5pp |
| Employer contribution / active EE | $662 | $1,802-63.2% | $2,735-75.8% | $2,757-76.0% |
| Participant deferral / active EE | $2,626 | $3,115-15.7% | $4,527-42.0% | $4,300-38.9% |
| Admin fee / account holder | $2,390 | $4,992-52.1% | $6,165-61.2% | $6,925-65.5% |