Filed May 21, 2022
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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 | $42,162 | $46,732-9.8% | $156,551-73.1% | $55,167-23.6% |
| Participation rate | 14.2% | 65.8%-51.6pp | 84.0%-69.9pp | 69.0%-54.8pp |
| Annual return | 7.10% | 17.72%-10.6pp | 32.23%-25.1pp | 169.23%-162.1pp |
| Employer contribution / active EE | $0 | $2,105-100.0% | $5,501-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $1,357 | $2,204-38.4% | $4,871-72.1% | $3,054-55.6% |
| Admin fee / account holder | $8,921 | $418+2032.3% | $13,028-31.5% | $504+1670.4% |