Filed January 19, 2024
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $17,270 | $181,896-90.5% | $156,551-89.0% | $273,972-93.7% |
| Participation rate | 66.7% | 88.4%-21.7pp | 84.0%-17.3pp | 83.0%-16.3pp |
| Annual return | -1.00% | 30.74%-31.7pp | 32.23%-33.2pp | 41.46%-42.5pp |
| Employer contribution / active EE | $0 | $6,248-100.0% | $5,501-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $3,048 | $5,550-45.1% | $4,871-37.4% | $5,287-42.3% |
| Admin fee / account holder | $7,420 | $15,560-52.3% | $13,028-43.0% | $10,133-26.8% |