Filed May 26, 2023
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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 | $4,411 | $58,627-92.5% | $76,735-94.3% | $82,448-94.7% |
| Participation rate | 76.7% | 63.2%+13.5pp | 69.5%+7.2pp | 68.1%+8.6pp |
| Annual return | 16.39% | 39.10%-22.7pp | 29.77%-13.4pp | 41.64%-25.3pp |
| Employer contribution / active EE | $0 | $1,729-100.0% | $2,454-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $1,703 | $3,134-45.6% | $4,088-58.3% | $4,139-58.9% |
| Admin fee / account holder | $697 | $5,323-86.9% | $7,189-90.3% | $7,234-90.4% |