Filed February 27, 2023
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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 | $5,783 | $101,795-94.3% | $165,100-96.5% | $80,959-92.9% |
| Participation rate | 48.1% | 71.8%-23.7pp | 78.6%-30.5pp | 67.7%-19.5pp |
| Annual return | 17.91% | 16.73%+1.2pp | 70.21%-52.3pp | 35.67%-17.8pp |
| Employer contribution / active EE | $1,244 | $2,954-57.9% | $4,348-71.4% | $2,757-54.9% |
| Participant deferral / active EE | $1,447 | $4,476-67.7% | $6,035-76.0% | $4,300-66.3% |
| Admin fee / account holder | $1,361 | $8,221-83.4% | $12,696-89.3% | $6,925-80.3% |