Filed May 4, 2022
Total covered: 5 employees
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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 | $14,013 | $101,778-86.2% | $164,975-91.5% | $80,925-82.7% |
| Participation rate | 62.9% | 71.8%-8.9pp | 78.6%-15.7pp | 67.7%-4.8pp |
| Annual return | 10.92% | 16.73%-5.8pp | 70.12%-59.2pp | 35.65%-24.7pp |
| Employer contribution / active EE | $1,366 | $2,954-53.7% | $4,343-68.5% | $2,756-50.4% |
| Participant deferral / active EE | $0 | $4,477-100.0% | $6,033-100.0% | $4,299-100.0% |
| Admin fee / account holder | $374 | $8,221-95.4% | $12,688-97.0% | $6,940-94.6% |