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 | $12,515 | $54,541-77.1% | $78,778-84.1% | $70,126-82.2% |
| Participation rate | 61.9% | 60.8%+1.1pp | 69.2%-7.3pp | 69.5%-7.6pp |
| Annual return | 12.12% | 21.07%-8.9pp | 35.62%-23.5pp | 73.15%-61.0pp |
| Employer contribution / active EE | $245 | $1,089-77.5% | $1,986-87.7% | $2,343-89.5% |
| Participant deferral / active EE | $1,384 | $2,210-37.4% | $2,958-53.2% | $3,332-58.5% |
| Admin fee / account holder | $5,091 | $3,709+37.3% | $5,134-0.8% | $4,645+9.6% |