Filed January 2, 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 | $195,847 | $73,787+165.4% | $98,716+98.4% | $82,448+137.5% |
| Participation rate | 64.4% | 61.4%+3.0pp | 69.3%-4.9pp | 68.1%-3.7pp |
| Annual return | 16.46% | 18.57%-2.1pp | 31.81%-15.4pp | 41.64%-25.2pp |
| Employer contribution / active EE | $0 | $1,511-100.0% | $2,279-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $4,770 | $3,081+54.8% | $4,048+17.8% | $4,139+15.2% |
| Admin fee / account holder | $1,517 | $6,500-76.7% | $8,703-82.6% | $7,234-79.0% |