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 | $14,391 | $46,297-68.9% | $71,671-79.9% | $62,293-76.9% |
| Participation rate | 28.7% | 60.6%-31.9pp | 68.7%-40.0pp | 69.5%-40.8pp |
| Annual return | 15.61% | 22.32%-6.7pp | 20.65%-5.0pp | 28.90%-13.3pp |
| Employer contribution / active EE | $221 | $1,412-84.4% | $2,460-91.0% | $2,042-89.2% |
| Participant deferral / active EE | $936 | $2,235-58.1% | $3,438-72.8% | $3,169-70.5% |
| Admin fee / account holder | $1,395 | $461+202.8% | $5,558-74.9% | $479+191.0% |