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 | $23,666 | $59,448-60.2% | $93,696-74.7% | $74,459-68.2% |
| Participation rate | 41.0% | 59.6%-18.7pp | 68.7%-27.8pp | 67.2%-26.3pp |
| Annual return | 49.88% | 82.11%-32.2pp | 133.74%-83.9pp | 1369.70%-1319.8pp |
| Employer contribution / active EE | $654 | $1,266-48.4% | $2,422-73.0% | $2,626-75.1% |
| Participant deferral / active EE | $1,755 | $3,052-42.5% | $4,417-60.3% | $4,350-59.6% |
| Admin fee / account holder | $3,929 | $3,027+29.8% | $8,287-52.6% | $1,945+102.0% |