Filed September 11, 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 | $98,184 | $68,852+42.6% | $120,524-18.5% | $80,925+21.3% |
| Participation rate | 14.0% | 61.6%-47.7pp | 71.9%-58.0pp | 67.7%-53.7pp |
| Annual return | 14.74% | 23.67%-8.9pp | 107.36%-92.6pp | 35.65%-20.9pp |
| Employer contribution / active EE | $482 | $2,063-76.7% | $3,469-86.1% | $2,756-82.5% |
| Participant deferral / active EE | $1,294 | $3,187-59.4% | $4,994-74.1% | $4,299-69.9% |
| Admin fee / account holder | $8,194 | $5,781+41.7% | $9,440-13.2% | $6,940+18.1% |