Filed August 23, 2023
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
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 | $12,313 | $50,958-75.8% | $74,550-83.5% | $64,186-80.8% |
| Participation rate | 60.5% | 61.1%-0.5pp | 69.1%-8.6pp | 69.6%-9.0pp |
| Annual return | -5.50% | -1.86%-3.6pp | 32.53%-38.0pp | 7.63%-13.1pp |
| Employer contribution / active EE | $0 | $1,115-100.0% | $1,961-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,279 | $2,301-44.4% | $3,108-58.9% | $3,470-63.2% |
| Admin fee / account holder | $659 | $4,223-84.4% | $5,060-87.0% | $4,888-86.5% |