Filed November 18, 2022
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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.)
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 | $24,467 | $110,083-77.8% | $151,645-83.9% | $68,490-64.3% |
| Participation rate | 96.1% | 84.0%+12.1pp | 87.5%+8.6pp | 67.9%+28.2pp |
| Annual return | 7.81% | -10.12%+17.9pp | 3.34%+4.5pp | -7.85%+15.7pp |
| Employer contribution / active EE | $2,455 | $4,470-45.1% | $6,165-60.2% | $2,597-5.4% |
| Participant deferral / active EE | $0 | $6,526-100.0% | $8,363-100.0% | $4,028-100.0% |
| Admin fee / account holder | $968 | $7,718-87.5% | $11,614-91.7% | $5,403-82.1% |