Filed May 19, 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 | $35,454 | $143,969-75.4% | $199,883-82.3% | $82,637-57.1% |
| Participation rate | 61.3% | 84.1%-22.8pp | 86.8%-25.4pp | 68.1%-6.7pp |
| Annual return | 23.73% | 25.67%-1.9pp | 43.81%-20.1pp | 53.51%-29.8pp |
| Employer contribution / active EE | $1,868 | $4,632-59.7% | $6,261-70.2% | $2,552-26.8% |
| Participant deferral / active EE | $4,189 | $6,937-39.6% | $9,138-54.2% | $4,126+1.5% |
| Admin fee / account holder | $1,323 | $14,597-90.9% | $17,268-92.3% | $7,339-82.0% |