Filed August 23, 2023
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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 | $12,354 | $65,034-81.0% | $90,970-86.4% | $79,856-84.5% |
| Participation rate | 51.8% | 61.6%-9.8pp | 69.0%-17.2pp | 69.6%-17.9pp |
| Annual return | 15.60% | 30.45%-14.8pp | 134.60%-119.0pp | 31.71%-16.1pp |
| Employer contribution / active EE | $231 | $1,247-81.5% | $2,122-89.1% | $2,471-90.6% |
| Participant deferral / active EE | $1,729 | $2,512-31.2% | $3,373-48.7% | $3,741-53.8% |
| Admin fee / account holder | $1,584 | $4,536-65.1% | $5,961-73.4% | $5,306-70.1% |