Filed June 10, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $19,123 | $56,200-66.0% | $67,653-71.7% | $59,633-67.9% |
| Participation rate | 45.7% | 71.5%-25.8pp | 75.7%-30.0pp | 68.7%-23.0pp |
| Annual return | -3.29% | 18506.71%-18510.0pp | 6625.22%-6628.5pp | 2041.40%-2044.7pp |
| Employer contribution / active EE | $0 | $1,615-100.0% | $2,266-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $1,395 | $2,843-50.9% | $3,560-60.8% | $3,192-56.3% |
| Admin fee / account holder | $532 | $3,959-86.6% | $4,821-89.0% | $4,297-87.6% |