Filed March 23, 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.)
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 | $13,575 | $157,307-91.4% | $141,200-90.4% | $152,914-91.1% |
| Participation rate | 54.5% | 84.8%-30.3pp | 82.5%-27.9pp | 82.5%-27.9pp |
| Annual return | 4.13% | 64.34%-60.2pp | 71.41%-67.3pp | 345.48%-341.3pp |
| Employer contribution / active EE | $1,160 | $5,263-78.0% | $4,736-75.5% | $4,764-75.7% |
| Participant deferral / active EE | $787 | $7,111-88.9% | $6,710-88.3% | $5,852-86.5% |
| Admin fee / account holder | $2,051 | $12,126-83.1% | $10,265-80.0% | $11,601-82.3% |