Filed June 20, 2023 (most recent of 3 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,267 | $61,356-60.4% | $149,696-83.8% | $71,511-66.1% |
| Participation rate | 22.5% | 62.5%-40.0pp | 78.8%-56.2pp | 67.9%-45.4pp |
| Annual return | 16.47% | 35.86%-19.4pp | 134.46%-118.0pp | 28.86%-12.4pp |
| Employer contribution / active EE | $348 | $2,382-85.4% | $4,821-92.8% | $2,589-86.5% |
| Participant deferral / active EE | $962 | $2,920-67.1% | $5,682-83.1% | $4,291-77.6% |
| Admin fee / account holder | $2,882 | $1,263+128.1% | $13,212-78.2% | $1,588+81.4% |