Filed February 23, 2023 (most recent of 2 filings on file)
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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.)
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 | $17,548 | $100,060-82.5% | $149,721-88.3% | $70,126-75.0% |
| Participation rate | 42.7% | 83.6%-40.9pp | 87.1%-44.4pp | 69.5%-26.9pp |
| Annual return | 22.64% | 27.46%-4.8pp | 1501.67%-1479.0pp | 73.15%-50.5pp |
| Employer contribution / active EE | $0 | $3,661-100.0% | $5,444-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,821 | $4,982-63.4% | $6,568-72.3% | $3,332-45.3% |
| Admin fee / account holder | $5,912 | $8,285-28.6% | $11,282-47.6% | $4,645+27.3% |