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.)
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 | $16,185 | $96,123-83.2% | $77,361-79.1% | $198,609-91.9% |
| Participation rate | 20.0% | 81.1%-61.1pp | 75.0%-55.0pp | 82.4%-62.4pp |
| Annual return | 9.83% | 2054.81%-2045.0pp | 1011.54%-1001.7pp | 202.70%-192.9pp |
| Employer contribution / active EE | $1,397 | $3,791-63.1% | $2,990-53.3% | $5,055-72.4% |
| Participant deferral / active EE | $1,439 | $4,975-71.1% | $3,911-63.2% | $6,977-79.4% |
| Admin fee / account holder | $1,619 | $9,471-82.9% | $5,894-72.5% | $19,030-91.5% |