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 | $8,028 | $67,602-88.1% | $82,312-90.2% | $70,126-88.6% |
| Participation rate | 85.3% | 72.8%+12.5pp | 76.9%+8.4pp | 69.5%+15.8pp |
| Annual return | 27.57% | 21.57%+6.0pp | 25.88%+1.7pp | 73.15%-45.6pp |
| Employer contribution / active EE | $1,362 | $1,755-22.4% | $2,428-43.9% | $2,343-41.8% |
| Participant deferral / active EE | $2,276 | $2,987-23.8% | $3,706-38.6% | $3,332-31.7% |
| Admin fee / account holder | $517 | $4,512-88.5% | $5,608-90.8% | $4,645-88.9% |