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 | $12,758 | $94,529-86.5% | $140,019-90.9% | $64,173-80.1% |
| Participation rate | 66.2% | 84.1%-17.9pp | 87.5%-21.3pp | 69.6%-3.4pp |
| Annual return | -4.18% | 7.77%-12.0pp | 651.17%-655.4pp | 7.63%-11.8pp |
| Employer contribution / active EE | $0 | $3,812-100.0% | $5,605-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,030 | $5,250-80.4% | $6,927-85.1% | $3,470-70.3% |
| Admin fee / account holder | $684 | $6,741-89.9% | $10,705-93.6% | $4,887-86.0% |