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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $110,124 | $59,819+84.1% | $79,583+38.4% | $68,490+60.8% |
| Participation rate | 68.4% | 61.1%+7.3pp | 69.5%-1.1pp | 67.9%+0.5pp |
| Annual return | -20.84% | -12.30%-8.5pp | 0.16%-21.0pp | -7.85%-13.0pp |
| Employer contribution / active EE | $0 | $1,505-100.0% | $2,414-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $4,563 | $3,025+50.8% | $3,986+14.5% | $4,028+13.3% |
| Admin fee / account holder | $5,087 | $4,835+5.2% | $6,835-25.6% | $5,403-5.8% |