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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,811 | $41,016-39.5% | $152,093-83.7% | $64,097-61.3% |
| Participation rate | 24.5% | 51.3%-26.8pp | 77.8%-53.2pp | 55.2%-30.7pp |
| Annual return | 11.99% | 39.60%-27.6pp | 66.36%-54.4pp | 34.64%-22.7pp |
| Employer contribution / active EE | $789 | $1,342-41.2% | $4,175-81.1% | $1,891-58.3% |
| Participant deferral / active EE | $1,008 | $1,927-47.7% | $5,451-81.5% | $3,080-67.3% |
| Admin fee / account holder | $2,787 | $2,305+20.9% | $14,497-80.8% | $3,454-19.3% |