Filed October 18, 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 | $16,750 | $102,422-83.6% | $147,117-88.6% | $80,959-79.3% |
| Participation rate | 54.8% | 75.9%-21.0pp | 82.2%-27.3pp | 67.7%-12.8pp |
| Annual return | -3.12% | 135.16%-138.3pp | 420.54%-423.7pp | 35.67%-38.8pp |
| Employer contribution / active EE | $1,004 | $3,717-73.0% | $4,932-79.6% | $2,757-63.6% |
| Participant deferral / active EE | $2,193 | $6,652-67.0% | $8,065-72.8% | $4,300-49.0% |
| Admin fee / account holder | $438 | $7,953-94.5% | $12,993-96.6% | $6,925-93.7% |