Filed May 7, 2024 (most recent of 2 filings on file)
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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.)
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 | $11,002 | $52,678-79.1% | $75,784-85.5% | $59,633-81.6% |
| Participation rate | 11.4% | 67.2%-55.9pp | 75.8%-64.5pp | 68.7%-57.3pp |
| Annual return | -6.71% | 2.95%-9.7pp | 9.68%-16.4pp | 2041.45%-2048.2pp |
| Employer contribution / active EE | $0 | $2,193-100.0% | $3,323-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $124 | $2,591-95.2% | $3,652-96.6% | $3,192-96.1% |
| Admin fee / account holder | $731 | $3,610-79.7% | $5,300-86.2% | $4,297-83.0% |