Filed May 17, 2023
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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 | $31,297 | $100,194-68.8% | $122,979-74.6% | $86,983-64.0% |
| Participation rate | 100.0% | 73.0%+27.0pp | 77.2%+22.8pp | 69.5%+30.5pp |
| Annual return | 17.42% | 16.47%+0.9pp | 20.12%-2.7pp | 25.83%-8.4pp |
| Employer contribution / active EE | $799 | $2,326-65.7% | $3,062-73.9% | $2,584-69.1% |
| Participant deferral / active EE | $2,306 | $4,133-44.2% | $5,003-53.9% | $4,194-45.0% |
| Admin fee / account holder | $1,441 | $10,148-85.8% | $12,864-88.8% | $7,856-81.7% |