Filed March 3, 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.)
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 | $11,578 | $45,043-74.3% | $63,005-81.6% | $70,124-83.5% |
| Participation rate | 59.5% | 69.5%-10.0pp | 74.8%-15.3pp | 69.5%-10.0pp |
| Annual return | 17.54% | 18.76%-1.2pp | 87.59%-70.1pp | 73.14%-55.6pp |
| Employer contribution / active EE | $861 | $2,052-58.1% | $2,760-68.8% | $2,342-63.3% |
| Participant deferral / active EE | $2,576 | $2,466+4.5% | $3,329-22.6% | $3,332-22.7% |
| Admin fee / account holder | $453 | $2,833-84.0% | $3,599-87.4% | $4,645-90.2% |