Filed January 12, 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 | $26,248 | $87,834-70.1% | $133,975-80.4% | $62,881-58.3% |
| Participation rate | 100.0% | 83.4%+16.6pp | 87.1%+12.9pp | 69.3%+30.7pp |
| Annual return | 5.96% | 12.05%-6.1pp | 29.29%-23.3pp | 20.14%-14.2pp |
| Employer contribution / active EE | $2,266 | $3,482-34.9% | $5,211-56.5% | $2,281-0.6% |
| Participant deferral / active EE | $1,265 | $4,812-73.7% | $6,282-79.9% | $3,203-60.5% |
| Admin fee / account holder | $3,825 | $5,372-28.8% | $9,324-59.0% | $4,296-11.0% |