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 | $66,058 | $48,364+36.6% | $71,796-8.0% | $62,881+5.1% |
| Participation rate | 69.8% | 60.6%+9.2pp | 69.1%+0.7pp | 69.3%+0.5pp |
| Annual return | 5.06% | 13.16%-8.1pp | 78.04%-73.0pp | 20.14%-15.1pp |
| Employer contribution / active EE | $0 | $1,042-100.0% | $1,924-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $3,042 | $2,091+45.4% | $2,794+8.8% | $3,203-5.0% |
| Admin fee / account holder | $1,485 | $3,771-60.6% | $4,815-69.2% | $4,296-65.4% |