Filed January 17, 2023
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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.)
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 | $19,681 | $138,075-85.7% | $123,552-84.1% | $135,379-85.5% |
| Participation rate | 55.6% | 84.7%-29.2pp | 82.3%-26.7pp | 82.6%-27.1pp |
| Annual return | -5.75% | 153.70%-159.5pp | 119.20%-125.0pp | 519.79%-525.5pp |
| Employer contribution / active EE | $2,792 | $5,152-45.8% | $4,628-39.7% | $4,779-41.6% |
| Participant deferral / active EE | $4,071 | $6,800-40.1% | $6,426-36.6% | $5,609-27.4% |
| Admin fee / account holder | $461 | $10,917-95.8% | $9,285-95.0% | $10,828-95.7% |