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 | $22,796 | $98,766-76.9% | $149,730-84.8% | $79,852-71.5% |
| Participation rate | 59.3% | 75.8%-16.5pp | 82.5%-23.2pp | 69.6%-10.4pp |
| Annual return | 9.84% | 27.43%-17.6pp | 276.70%-266.9pp | 31.72%-21.9pp |
| Employer contribution / active EE | $2,369 | $3,217-26.4% | $4,645-49.0% | $2,471-4.2% |
| Participant deferral / active EE | $4,588 | $5,681-19.2% | $6,843-32.9% | $3,740+22.7% |
| Admin fee / account holder | $1,226 | $6,052-79.7% | $9,310-86.8% | $5,306-76.9% |