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 | $101,763-94.3% | $164,866-96.5% | $80,874-92.8% |
| Participation rate | 48.1% | 71.8%-23.7pp | 78.6%-30.5pp | 67.6%-19.5pp |
| Annual return | 17.91% | 16.73%+1.2pp | 69.97%-52.1pp | 35.62%-17.7pp |
| Employer contribution / active EE | $1,244 | $2,954-57.9% | $4,343-71.3% | $2,756-54.8% |
| Participant deferral / active EE | $1,447 | $4,477-67.7% | $6,033-76.0% | $4,297-66.3% |
| Admin fee / account holder | $1,361 | $8,228-83.5% | $12,689-89.3% | $6,935-80.4% |