Filed August 31, 2023
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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 | $16,992 | $82,674-79.4% | $125,363-86.4% | $68,495-75.2% |
| Participation rate | 17.8% | 75.0%-57.3pp | 82.4%-64.6pp | 67.9%-50.1pp |
| Annual return | -20.36% | -5.97%-14.4pp | 572.15%-592.5pp | -7.84%-12.5pp |
| Employer contribution / active EE | $0 | $3,382-100.0% | $4,815-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $1,249 | $6,111-79.6% | $7,447-83.2% | $4,028-69.0% |
| Admin fee / account holder | $4,151 | $6,276-33.9% | $10,005-58.5% | $5,403-23.2% |