Filed April 27, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,422 | $55,470-65.0% | $155,556-87.5% | $74,478-73.9% |
| Participation rate | 23.2% | 61.9%-38.7pp | 78.2%-55.1pp | 67.2%-44.1pp |
| Annual return | 9.21% | 269.80%-260.6pp | 64.84%-55.6pp | 1370.56%-1361.4pp |
| Employer contribution / active EE | $676 | $2,267-70.2% | $4,675-85.5% | $2,626-74.3% |
| Participant deferral / active EE | $868 | $2,838-69.4% | $5,631-84.6% | $4,350-80.0% |
| Admin fee / account holder | $4,535 | $1,744+160.0% | $15,885-71.5% | $1,946+133.0% |