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 | $13,489 | $56,544-76.1% | $75,501-82.1% | $70,126-80.8% |
| Participation rate | 56.4% | 68.1%-11.7pp | 72.4%-15.9pp | 69.5%-13.1pp |
| Annual return | 20.09% | 23.59%-3.5pp | 27.35%-7.3pp | 73.15%-53.1pp |
| Employer contribution / active EE | $902 | $1,817-50.3% | $2,352-61.6% | $2,343-61.5% |
| Participant deferral / active EE | $1,486 | $2,580-42.4% | $3,142-52.7% | $3,332-55.4% |
| Admin fee / account holder | $881 | $3,827-77.0% | $5,801-84.8% | $4,645-81.0% |