Filed May 22, 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 | $9,799 | $52,306-81.3% | $69,779-86.0% | $62,881-84.4% |
| Participation rate | 48.8% | 67.2%-18.4pp | 71.8%-23.0pp | 69.3%-20.5pp |
| Annual return | 26.08% | 13.35%+12.7pp | 12.99%+13.1pp | 20.14%+5.9pp |
| Employer contribution / active EE | $727 | $1,799-59.6% | $2,338-68.9% | $2,281-68.1% |
| Participant deferral / active EE | $1,225 | $2,395-48.9% | $2,931-58.2% | $3,203-61.8% |
| Admin fee / account holder | $507 | $3,691-86.3% | $4,381-88.4% | $4,296-88.2% |