Filed August 23, 2023
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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.)
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 | $12,342 | $48,364-74.5% | $71,796-82.8% | $62,881-80.4% |
| Participation rate | 66.7% | 60.6%+6.0pp | 69.1%-2.4pp | 69.3%-2.6pp |
| Annual return | 4.65% | 13.16%-8.5pp | 78.04%-73.4pp | 20.14%-15.5pp |
| Employer contribution / active EE | $328 | $1,042-68.6% | $1,924-83.0% | $2,281-85.6% |
| Participant deferral / active EE | $1,591 | $2,091-23.9% | $2,794-43.1% | $3,203-50.3% |
| Admin fee / account holder | $2,188 | $3,771-42.0% | $4,815-54.6% | $4,296-49.1% |