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 | $11,755 | $77,638-84.9% | $156,551-92.5% | $62,881-81.3% |
| Participation rate | 68.6% | 71.2%-2.6pp | 84.0%-15.4pp | 69.3%-0.7pp |
| Annual return | 9.84% | 50.33%-40.5pp | 32.23%-22.4pp | 20.14%-10.3pp |
| Employer contribution / active EE | $1,721 | $3,444-50.0% | $5,501-68.7% | $2,281-24.6% |
| Participant deferral / active EE | $2,027 | $3,046-33.4% | $4,871-58.4% | $3,203-36.7% |
| Admin fee / account holder | $664 | $5,561-88.1% | $13,028-94.9% | $4,296-84.5% |