Filed November 2, 2023 (most recent of 4 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $20,922 | $87,834-76.2% | $133,975-84.4% | $62,881-66.7% |
| Participation rate | 64.3% | 83.4%-19.1pp | 87.1%-22.8pp | 69.3%-5.0pp |
| Annual return | 14.77% | 12.05%+2.7pp | 29.29%-14.5pp | 20.14%-5.4pp |
| Employer contribution / active EE | $1,131 | $3,482-67.5% | $5,211-78.3% | $2,281-50.4% |
| Participant deferral / active EE | $2,195 | $4,812-54.4% | $6,282-65.1% | $3,203-31.5% |
| Admin fee / account holder | $6,638 | $5,372+23.5% | $9,324-28.8% | $4,296+54.5% |