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 | $43,749-43.3% | $158,223-84.3% | $65,306-62.0% |
| Participation rate | 24.5% | 56.9%-32.4pp | 79.2%-54.7pp | 57.7%-33.1pp |
| Annual return | 11.99% | 19.41%-7.4pp | 52.09%-40.1pp | 21.94%-9.9pp |
| Employer contribution / active EE | $789 | $1,497-47.3% | $4,109-80.8% | $1,967-59.9% |
| Participant deferral / active EE | $1,008 | $2,019-50.1% | $5,467-81.6% | $2,959-65.9% |
| Admin fee / account holder | $2,787 | $1,930+44.4% | $16,047-82.6% | $3,480-19.9% |