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 | $68,586+43.2% | $120,380-18.4% | $80,911+21.3% |
| Participation rate | 14.0% | 61.6%-47.6pp | 71.9%-58.0pp | 67.6%-53.7pp |
| Annual return | 14.74% | 23.62%-8.9pp | 107.28%-92.5pp | 35.63%-20.9pp |
| Employer contribution / active EE | $482 | $2,053-76.5% | $3,465-86.1% | $2,756-82.5% |
| Participant deferral / active EE | $1,294 | $3,174-59.2% | $4,992-74.1% | $4,297-69.9% |
| Admin fee / account holder | $8,194 | $5,733+42.9% | $9,421-13.0% | $6,935+18.2% |