Filed September 17, 2024
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.)
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 | $11,725 | $55,449-78.9% | $83,831-86.0% | $56,289-79.2% |
| Participation rate | 40.5% | 68.0%-27.5pp | 76.1%-35.6pp | 69.9%-29.3pp |
| Annual return | -11.56% | -1.38%-10.2pp | 850.99%-862.5pp | -9.96%-1.6pp |
| Employer contribution / active EE | $0 | $2,430-100.0% | $3,631-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $2,451 | $2,935-16.5% | $4,082-40.0% | $3,350-26.8% |
| Admin fee / account holder | $1,145 | $656+74.6% | $5,479-79.1% | $521+119.9% |