Filed April 10, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $15,025 | $89,367-83.2% | $141,191-89.4% | $72,975-79.4% |
| Participation rate | 45.7% | 75.1%-29.5pp | 82.5%-36.8pp | 69.5%-23.8pp |
| Annual return | 14.89% | 111.87%-97.0pp | 71.41%-56.5pp | 81.01%-66.1pp |
| Employer contribution / active EE | $1,174 | $3,115-62.3% | $4,736-75.2% | $2,440-51.9% |
| Participant deferral / active EE | $2,665 | $5,419-50.8% | $6,710-60.3% | $3,608-26.1% |
| Admin fee / account holder | $2,161 | $5,957-63.7% | $10,264-78.9% | $5,124-57.8% |