Filed January 10, 2023
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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 | $35,243 | $45,041-21.8% | $63,003-44.1% | $70,131-49.7% |
| Participation rate | 53.6% | 69.5%-16.0pp | 74.8%-21.2pp | 69.5%-16.0pp |
| Annual return | 16.44% | 18.76%-2.3pp | 87.59%-71.1pp | 73.14%-56.7pp |
| Employer contribution / active EE | $0 | $2,052-100.0% | $2,760-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $2,456 | $2,465-0.4% | $3,329-26.2% | $3,332-26.3% |
| Admin fee / account holder | $8,593 | $2,836+203.0% | $3,600+138.7% | $4,645+85.0% |