Filed September 26, 2023 (most recent of 2 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $1,979 | $81,358-97.6% | $155,556-98.7% | $80,959-97.6% |
| Participation rate | 35.4% | 66.3%-30.9pp | 78.2%-42.9pp | 67.7%-32.3pp |
| Annual return | 0.00% | 33.39%-33.4pp | 64.84%-64.8pp | 35.67%-35.7pp |
| Employer contribution / active EE | $992 | $3,106-68.1% | $4,675-78.8% | $2,757-64.0% |
| Participant deferral / active EE | $0 | $3,455-100.0% | $5,631-100.0% | $4,300-100.0% |
| Admin fee / account holder | $311 | $7,994-96.1% | $15,885-98.0% | $6,925-95.5% |