Filed May 4, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $18,893 | $89,364-78.9% | $141,177-86.6% | $72,983-74.1% |
| Participation rate | 30.3% | 75.1%-44.9pp | 82.5%-52.2pp | 69.5%-39.2pp |
| Annual return | 24.97% | 111.86%-86.9pp | 71.40%-46.4pp | 81.01%-56.0pp |
| Employer contribution / active EE | $196 | $3,115-93.7% | $4,736-95.9% | $2,440-92.0% |
| Participant deferral / active EE | $2,364 | $5,419-56.4% | $6,710-64.8% | $3,608-34.5% |
| Admin fee / account holder | $955 | $5,959-84.0% | $10,263-90.7% | $5,124-81.4% |