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.)
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 | $18,825 | $93,617-79.9% | $135,982-86.2% | $75,177-75.0% |
| Participation rate | 37.9% | 75.2%-37.3pp | 81.9%-44.0pp | 67.2%-29.3pp |
| Annual return | 37.41% | 30.89%+6.5pp | 68.32%-30.9pp | 160.75%-123.3pp |
| Employer contribution / active EE | $883 | $3,538-75.1% | $4,859-81.8% | $2,671-67.0% |
| Participant deferral / active EE | $713 | $6,406-88.9% | $7,760-90.8% | $4,126-82.7% |
| Admin fee / account holder | $4,832 | $6,980-30.8% | $10,767-55.1% | $5,651-14.5% |