Filed October 30, 2024
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Participant 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 | $31,684 | $87,834-63.9% | $133,975-76.4% | $62,881-49.6% |
| Participation rate | 94.4% | 83.4%+11.1pp | 87.1%+7.4pp | 69.3%+25.1pp |
| Annual return | 8.06% | 12.05%-4.0pp | 29.29%-21.2pp | 20.14%-12.1pp |
| Employer contribution / active EE | $2,109 | $3,482-39.4% | $5,211-59.5% | $2,281-7.5% |
| Participant deferral / active EE | $1,809 | $4,812-62.4% | $6,282-71.2% | $3,203-43.5% |
| Admin fee / account holder | $674 | $5,372-87.5% | $9,324-92.8% | $4,296-84.3% |