Filed October 21, 2022
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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 | $19,302 | $93,373-79.3% | $152,466-87.3% | $85,856-77.5% |
| Participation rate | 45.7% | 70.1%-24.4pp | 78.2%-32.5pp | 69.3%-23.7pp |
| Annual return | 16.71% | 21.84%-5.1pp | 757.33%-740.6pp | 318.58%-301.9pp |
| Employer contribution / active EE | $1,249 | $2,996-58.3% | $4,327-71.1% | $2,565-51.3% |
| Participant deferral / active EE | $2,738 | $4,550-39.8% | $5,820-53.0% | $3,952-30.7% |
| Admin fee / account holder | $1,270 | $13,853-90.8% | $15,805-92.0% | $6,261-79.7% |