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 | $84,233 | $58,493+44.0% | $84,023+0.3% | $72,976+15.4% |
| Participation rate | 69.2% | 61.2%+8.0pp | 69.0%+0.2pp | 69.5%-0.3pp |
| Annual return | 19.15% | 28.93%-9.8pp | 71.32%-52.2pp | 81.02%-61.9pp |
| Employer contribution / active EE | $0 | $1,163-100.0% | $1,984-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $3,417 | $2,394+42.7% | $3,239+5.5% | $3,608-5.3% |
| Admin fee / account holder | $665 | $4,569-85.4% | $6,102-89.1% | $5,124-87.0% |