Filed January 16, 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 | $6,098 | $49,177-87.6% | $79,467-92.3% | $64,173-90.5% |
| Participation rate | 19.6% | 65.0%-45.4pp | 73.3%-53.8pp | 69.6%-50.0pp |
| Annual return | -8.50% | -1.16%-7.3pp | 718.30%-726.8pp | 7.63%-16.1pp |
| Employer contribution / active EE | $0 | $2,076-100.0% | $2,800-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $569 | $2,821-79.8% | $3,704-84.6% | $3,470-83.6% |
| Admin fee / account holder | $1,622 | $3,839-57.8% | $5,104-68.2% | $4,887-66.8% |