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 | $156,398-89.7% | $147,318-89.1% | $138,895-88.4% |
| Participation rate | 62.5% | 83.8%-21.3pp | 82.1%-19.6pp | 79.9%-17.4pp |
| Annual return | 4.38% | 78.75%-74.4pp | 70.43%-66.1pp | 145.39%-141.0pp |
| Employer contribution / active EE | $1,656 | $4,853-65.9% | $4,593-64.0% | $4,194-60.5% |
| Participant deferral / active EE | $2,997 | $8,237-63.6% | $7,906-62.1% | $6,396-53.1% |
| Admin fee / account holder | $10,937 | $14,976-27.0% | $13,708-20.2% | $12,562-12.9% |