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 | $69,628 | $50,947+36.7% | $74,551-6.6% | $64,173+8.5% |
| Participation rate | 69.2% | 61.1%+8.2pp | 69.1%+0.1pp | 69.6%-0.3pp |
| Annual return | -3.70% | -1.85%-1.8pp | 32.53%-36.2pp | 7.63%-11.3pp |
| Employer contribution / active EE | $0 | $1,115-100.0% | $1,961-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $2,879 | $2,302+25.1% | $3,108-7.4% | $3,470-17.0% |
| Admin fee / account holder | $550 | $4,221-87.0% | $5,059-89.1% | $4,887-88.8% |