Filed December 21, 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.
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,183 | $46,697-78.2% | $117,533-91.3% | $68,486-85.1% |
| Participation rate | 30.4% | 56.8%-26.3pp | 70.6%-40.2pp | 67.9%-37.5pp |
| Annual return | -16.57% | -14.52%-2.1pp | 29.77%-46.3pp | -7.85%-8.7pp |
| Employer contribution / active EE | $0 | $1,506-100.0% | $4,179-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $0 | $2,637-100.0% | $4,072-100.0% | $4,028-100.0% |
| Admin fee / account holder | $9,394 | $4,023+133.5% | $5,647+66.4% | $5,404+73.8% |