Filed December 30, 2022
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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 | $19,432 | $77,817-75.0% | $123,553-84.3% | $64,173-69.7% |
| Participation rate | 100.0% | 74.7%+25.3pp | 82.3%+17.7pp | 69.6%+30.4pp |
| Annual return | 5.43% | 12.49%-7.1pp | 119.21%-113.8pp | 7.63%-2.2pp |
| Employer contribution / active EE | $979 | $3,014-67.5% | $4,628-78.9% | $2,381-58.9% |
| Participant deferral / active EE | $0 | $5,240-100.0% | $6,426-100.0% | $3,470-100.0% |
| Admin fee / account holder | $837 | $5,519-84.8% | $9,284-91.0% | $4,887-82.9% |