Filed November 6, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $12,569 | $48,078-73.9% | $78,676-84.0% | $62,881-80.0% |
| Participation rate | 45.5% | 65.2%-19.8pp | 73.6%-28.1pp | 69.3%-23.9pp |
| Annual return | 4.00% | 31.36%-27.4pp | 62.19%-58.2pp | 20.14%-16.1pp |
| Employer contribution / active EE | $0 | $2,015-100.0% | $2,850-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $2,287 | $2,587-11.6% | $3,517-35.0% | $3,203-28.6% |
| Admin fee / account holder | $1,032 | $3,206-67.8% | $4,510-77.1% | $4,296-76.0% |