Filed January 23, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
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 | $9,655 | $46,599-79.3% | $64,101-84.9% | $75,173-87.2% |
| Participation rate | 26.2% | 65.9%-39.8pp | 72.3%-46.2pp | 67.2%-41.0pp |
| Annual return | 10.83% | 26.06%-15.2pp | 33.72%-22.9pp | 160.72%-149.9pp |
| Employer contribution / active EE | $580 | $1,975-70.6% | $2,749-78.9% | $2,671-78.3% |
| Participant deferral / active EE | $743 | $2,837-73.8% | $3,881-80.8% | $4,126-82.0% |
| Admin fee / account holder | $505 | $2,956-82.9% | $3,070-83.6% | $5,651-91.1% |