Filed July 2, 2024
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $9,757 | $77,638-87.4% | $156,551-93.8% | $62,881-84.5% |
| Participation rate | 52.9% | 71.2%-18.3pp | 84.0%-31.1pp | 69.3%-16.4pp |
| Annual return | -0.87% | 50.33%-51.2pp | 32.23%-33.1pp | 20.14%-21.0pp |
| Employer contribution / active EE | $0 | $3,444-100.0% | $5,501-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $2,219 | $3,046-27.1% | $4,871-54.4% | $3,203-30.7% |
| Admin fee / account holder | $313 | $5,561-94.4% | $13,028-97.6% | $4,296-92.7% |