Filed June 5, 2023 (most recent of 3 filings on file)
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $109,202 | $90,486+20.7% | $78,676+38.8% | $273,972-60.1% |
| Participation rate | 55.6% | 76.5%-21.0pp | 73.6%-18.0pp | 83.0%-27.5pp |
| Annual return | 1.49% | 75.62%-74.1pp | 62.19%-60.7pp | 41.46%-40.0pp |
| Employer contribution / active EE | $0 | $3,175-100.0% | $2,850-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $6,544 | $3,901+67.7% | $3,517+86.1% | $5,287+23.8% |
| Admin fee / account holder | $35,097 | $5,263+566.8% | $4,510+678.2% | $10,133+246.4% |