Filed August 23, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $9,792 | $91,559-89.3% | $133,971-92.7% | $79,852-87.7% |
| Participation rate | 27.0% | 73.3%-46.3pp | 79.8%-52.8pp | 69.6%-42.6pp |
| Annual return | 39.91% | 61.85%-21.9pp | 45.09%-5.2pp | 31.72%+8.2pp |
| Employer contribution / active EE | $292 | $2,384-87.7% | $3,919-92.5% | $2,471-88.2% |
| Participant deferral / active EE | $1,942 | $3,734-48.0% | $5,047-61.5% | $3,740-48.1% |
| Admin fee / account holder | $3,732 | $6,321-41.0% | $8,929-58.2% | $5,306-29.7% |