Filed July 16, 2024
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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 | $28,528 | $86,940-67.2% | $102,434-72.1% | $80,935-64.8% |
| Participation rate | 79.1% | 72.4%+6.7pp | 76.5%+2.6pp | 67.7%+11.4pp |
| Annual return | 18.98% | 18.89%+0.1pp | 29.46%-10.5pp | 35.66%-16.7pp |
| Employer contribution / active EE | $2,101 | $2,370-11.4% | $3,023-30.5% | $2,757-23.8% |
| Participant deferral / active EE | $3,104 | $4,121-24.7% | $5,055-38.6% | $4,299-27.8% |
| Admin fee / account holder | $581 | $8,047-92.8% | $9,462-93.9% | $6,924-91.6% |