Filed March 28, 2023
Total covered: 32 employees
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $12,686 | $180,459-93.0% | $154,108-91.8% | $135,380-90.6% |
| Participation rate | 41.7% | 87.4%-45.8pp | 83.0%-41.4pp | 82.6%-41.0pp |
| Annual return | 8.78% | 888.21%-879.4pp | 735.21%-726.4pp | 519.81%-511.0pp |
| Employer contribution / active EE | $1,876 | $6,035-68.9% | $5,298-64.6% | $4,779-60.7% |
| Participant deferral / active EE | $2,528 | $5,806-56.5% | $5,081-50.2% | $5,609-54.9% |
| Admin fee / account holder | $2,456 | $16,145-84.8% | $13,411-81.7% | $10,828-77.3% |