Filed October 18, 2023
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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 | $16,128 | $162,136-90.1% | $152,301-89.4% | $154,746-89.6% |
| Participation rate | 62.5% | 84.1%-21.6pp | 82.4%-19.9pp | 80.7%-18.2pp |
| Annual return | 4.38% | 91.02%-86.6pp | 80.50%-76.1pp | 172.34%-168.0pp |
| Employer contribution / active EE | $1,656 | $4,890-66.1% | $4,624-64.2% | $4,379-62.2% |
| Participant deferral / active EE | $2,997 | $8,341-64.1% | $8,004-62.6% | $6,730-55.5% |
| Admin fee / account holder | $10,937 | $15,759-30.6% | $14,398-24.0% | $14,365-23.9% |