Filed May 17, 2023
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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 | $54,106 | $274,299-80.3% | $274,299-80.3% | $286,788-81.1% |
| Participation rate | 100.0% | 43.5%+56.5pp | 39.8%+60.2pp | 37.6%+62.4pp |
| Annual return | 10.70% | 8.66%+2.0pp | 8.84%+1.9pp | 9.30%+1.4pp |
| Employer contribution / active EE | $15,385 | $69,684-77.9% | $67,498-77.2% | $43,748-64.8% |
| Participant deferral / active EE | $0 | $0 | $4-100.0% | $83-100.0% |
| Admin fee / account holder | $359 | $46,528-99.2% | $46,528-99.2% | $12,596-97.1% |