Filed July 22, 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 | $3,599 | $63,342-94.3% | $92,236-96.1% | $70,131-94.9% |
| Participation rate | 43.6% | 68.7%-25.0pp | 76.5%-32.8pp | 69.5%-25.9pp |
| Annual return | -27.22% | 530.15%-557.4pp | 176.29%-203.5pp | 73.14%-100.4pp |
| Employer contribution / active EE | $965 | $2,471-61.0% | $3,679-73.8% | $2,342-58.8% |
| Participant deferral / active EE | $352 | $2,854-87.7% | $3,897-91.0% | $3,332-89.4% |
| Admin fee / account holder | $621 | $3,840-83.8% | $5,194-88.1% | $4,645-86.6% |