Filed August 7, 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 | $4,628 | $93,346-95.0% | $71,796-93.6% | $273,972-98.3% |
| Participation rate | 46.2% | 76.5%-30.4pp | 69.1%-23.0pp | 83.0%-36.9pp |
| Annual return | -75.57% | 130.39%-206.0pp | 78.04%-153.6pp | 41.46%-117.0pp |
| Employer contribution / active EE | $74 | $2,733-97.3% | $1,924-96.1% | $4,869-98.5% |
| Participant deferral / active EE | $789 | $3,475-77.3% | $2,794-71.7% | $5,287-85.1% |
| Admin fee / account holder | $1,747 | $6,571-73.4% | $4,815-63.7% | $10,133-82.8% |