Filed December 21, 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 | $11,240 | $75,828-85.2% | $147,617-92.4% | $59,632-81.2% |
| Participation rate | 44.8% | 71.6%-26.8pp | 84.6%-39.8pp | 68.7%-23.9pp |
| Annual return | 0.00% | 0.37%-0.4pp | 61.98%-62.0pp | 2041.32%-2041.3pp |
| Employer contribution / active EE | $975 | $3,485-72.0% | $5,565-82.5% | $2,203-55.7% |
| Participant deferral / active EE | $1,167 | $3,130-62.7% | $4,895-76.2% | $3,192-63.4% |
| Admin fee / account holder | $301 | $5,985-95.0% | $11,611-97.4% | $4,297-93.0% |