Filed June 5, 2023
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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 | $26,933 | $171,867-84.3% | $149,721-82.0% | $147,586-81.8% |
| Participation rate | 50.0% | 88.2%-38.2pp | 87.1%-37.1pp | 82.8%-32.8pp |
| Annual return | 13.59% | 2113.36%-2099.8pp | 1501.67%-1488.1pp | 578.59%-565.0pp |
| Employer contribution / active EE | $2,782 | $6,275-55.7% | $5,444-48.9% | $4,876-42.9% |
| Participant deferral / active EE | $255 | $7,270-96.5% | $6,568-96.1% | $5,439-95.3% |
| Admin fee / account holder | $3,588 | $13,799-74.0% | $11,282-68.2% | $10,886-67.0% |