Filed March 31, 2023
Total covered: 7 employees
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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 | $11,711 | $44,850-73.9% | $60,547-80.7% | $59,633-80.4% |
| Participation rate | 23.8% | 59.5%-35.7pp | 68.0%-44.2pp | 68.7%-44.9pp |
| Annual return | -2.64% | 1074.14%-1076.8pp | 335.64%-338.3pp | 2041.45%-2044.1pp |
| Employer contribution / active EE | $182 | $1,462-87.6% | $2,419-92.5% | $2,203-91.7% |
| Participant deferral / active EE | $794 | $2,230-64.4% | $3,328-76.1% | $3,192-75.1% |
| Admin fee / account holder | $471 | $3,635-87.0% | $4,536-89.6% | $4,297-89.0% |