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 | $14,762 | $54,729-73.0% | $86,235-82.9% | $71,529-79.4% |
| Participation rate | 44.2% | 60.1%-15.9pp | 69.0%-24.7pp | 67.9%-23.7pp |
| Annual return | 20.55% | 20.07%+0.5pp | 1170.03%-1149.5pp | 28.97%-8.4pp |
| Employer contribution / active EE | $198 | $1,267-84.4% | $2,381-91.7% | $2,590-92.4% |
| Participant deferral / active EE | $1,737 | $3,110-44.2% | $3,987-56.4% | $4,291-59.5% |
| Admin fee / account holder | $3,092 | $1,921+60.9% | $6,856-54.9% | $1,588+94.7% |