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 | $16,527 | $61,391-73.1% | $149,723-89.0% | $71,529-76.9% |
| Participation rate | 45.3% | 62.5%-17.2pp | 78.8%-33.5pp | 67.9%-22.7pp |
| Annual return | 22.76% | 35.88%-13.1pp | 134.50%-111.7pp | 28.97%-6.2pp |
| Employer contribution / active EE | $1,235 | $2,384-48.2% | $4,821-74.4% | $2,590-52.3% |
| Participant deferral / active EE | $1,626 | $2,921-44.3% | $5,682-71.4% | $4,291-62.1% |
| Admin fee / account holder | $2,474 | $1,264+95.7% | $13,215-81.3% | $1,588+55.7% |