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.)
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 | $5,687 | $106,923-94.7% | $84,023-93.2% | $152,909-96.3% |
| Participation rate | 63.6% | 75.3%-11.6pp | 69.0%-5.4pp | 82.5%-18.8pp |
| Annual return | 19.64% | 105.02%-85.4pp | 71.32%-51.7pp | 345.46%-325.8pp |
| Employer contribution / active EE | $349 | $2,735-87.3% | $1,984-82.4% | $4,764-92.7% |
| Participant deferral / active EE | $1,603 | $4,013-60.0% | $3,239-50.5% | $5,851-72.6% |
| Admin fee / account holder | $345 | $8,289-95.8% | $6,102-94.3% | $11,601-97.0% |