Filed June 7, 2024
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Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,452 | $71,230-85.3% | $93,727-88.8% | $80,959-87.1% |
| Participation rate | 94.1% | 60.4%+33.7pp | 68.7%+25.4pp | 67.7%+26.4pp |
| Annual return | 0.00% | 11.26%-11.3pp | 133.83%-133.8pp | 35.67%-35.7pp |
| Employer contribution / active EE | $3,373 | $1,565+115.5% | $2,421+39.3% | $2,757+22.3% |
| Participant deferral / active EE | $0 | $4,037-100.0% | $4,417-100.0% | $4,300-100.0% |
| Admin fee / account holder | $1,657 | $6,961-76.2% | $8,292-80.0% | $6,925-76.1% |