Filed February 27, 2023
See peer percentile detail with Solo.
Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
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 | $101,724-94.3% | $164,813-96.5% | $80,856-92.8% |
| Participation rate | 48.1% | 71.8%-23.7pp | 78.6%-30.5pp | 67.6%-19.5pp |
| Annual return | 17.91% | 16.72%+1.2pp | 69.93%-52.0pp | 35.59%-17.7pp |
| Employer contribution / active EE | $1,244 | $2,953-57.9% | $4,341-71.3% | $2,755-54.8% |
| Participant deferral / active EE | $1,447 | $4,477-67.7% | $6,031-76.0% | $4,296-66.3% |
| Admin fee / account holder | $1,361 | $8,227-83.5% | $12,690-89.3% | $6,918-80.3% |