Filed February 19, 2024
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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 | $4,334 | $64,719-93.3% | $112,249-96.1% | $68,486-93.7% |
| Participation rate | 79.5% | 67.2%+12.3pp | 75.1%+4.4pp | 67.9%+11.6pp |
| Annual return | 0.00% | -11.40%+11.4pp | 27.48%-27.5pp | -7.85%+7.9pp |
| Employer contribution / active EE | $1,506 | $2,747-45.2% | $3,636-58.6% | $2,597-42.0% |
| Participant deferral / active EE | $1,576 | $3,565-55.8% | $4,729-66.7% | $4,028-60.9% |
| Admin fee / account holder | $1,019 | $5,232-80.5% | $6,412-84.1% | $5,404-81.1% |