Filed February 26, 2024
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $13,495 | $95,453-85.9% | $112,040-88.0% | $82,448-83.6% |
| Participation rate | 57.7% | 72.8%-15.1pp | 76.5%-18.8pp | 68.1%-10.4pp |
| Annual return | 11.62% | 23.92%-12.3pp | 24.52%-12.9pp | 41.64%-30.0pp |
| Employer contribution / active EE | $830 | $2,318-64.2% | $2,954-71.9% | $2,551-67.5% |
| Participant deferral / active EE | $1,370 | $4,224-67.6% | $5,098-73.1% | $4,139-66.9% |
| Admin fee / account holder | $1,541 | $9,013-82.9% | $12,098-87.3% | $7,234-78.7% |