Filed September 30, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $30,595 | $94,529-67.6% | $140,019-78.1% | $64,173-52.3% |
| Participation rate | 63.3% | 84.1%-20.8pp | 87.5%-24.2pp | 69.6%-6.2pp |
| Annual return | -2.11% | 7.77%-9.9pp | 651.15%-653.3pp | 7.63%-9.7pp |
| Employer contribution / active EE | $271 | $3,812-92.9% | $5,605-95.2% | $2,381-88.6% |
| Participant deferral / active EE | $2,436 | $5,250-53.6% | $6,927-64.8% | $3,470-29.8% |
| Admin fee / account holder | $472 | $6,741-93.0% | $10,705-95.6% | $4,887-90.3% |