Filed January 23, 2024
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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 | $8,058 | $42,909-81.2% | $60,906-86.8% | $68,486-88.2% |
| Participation rate | 42.4% | 66.8%-24.3pp | 73.1%-30.7pp | 67.9%-25.5pp |
| Annual return | -21.21% | -13.99%-7.2pp | 16.94%-38.1pp | -7.85%-13.4pp |
| Employer contribution / active EE | $905 | $1,979-54.3% | $2,703-66.5% | $2,597-65.2% |
| Participant deferral / active EE | $1,448 | $2,866-49.5% | $3,814-62.0% | $4,028-64.1% |
| Admin fee / account holder | $1,283 | $3,104-58.7% | $3,227-60.2% | $5,404-76.3% |