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.)
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 | $21,239 | $70,418-69.8% | $96,570-78.0% | $85,847-75.3% |
| Participation rate | 51.9% | 61.8%-10.0pp | 69.8%-18.0pp | 69.3%-17.5pp |
| Annual return | 12.27% | 18.59%-6.3pp | 37.79%-25.5pp | 318.61%-306.3pp |
| Employer contribution / active EE | $320 | $1,413-77.4% | $2,357-86.4% | $2,565-87.5% |
| Participant deferral / active EE | $2,014 | $2,894-30.4% | $3,849-47.7% | $3,952-49.0% |
| Admin fee / account holder | $1,960 | $4,995-60.8% | $6,182-68.3% | $6,261-68.7% |