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 | $43,496-43.0% | $161,489-84.6% | $64,340-61.4% |
| Participation rate | 24.5% | 53.5%-29.0pp | 78.7%-54.2pp | 55.2%-30.7pp |
| Annual return | 11.99% | 20.76%-8.8pp | 89.72%-77.7pp | 24.14%-12.2pp |
| Employer contribution / active EE | $789 | $1,431-44.9% | $4,268-81.5% | $1,862-57.6% |
| Participant deferral / active EE | $1,008 | $1,996-49.5% | $5,630-82.1% | $2,980-66.2% |
| Admin fee / account holder | $2,787 | $2,330+19.6% | $16,006-82.6% | $3,703-24.7% |