Filed June 22, 2022
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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 | $93,211 | $145,431-35.9% | $211,142-55.9% | $87,485+6.5% |
| Participation rate | 50.8% | 84.7%-34.0pp | 87.3%-36.5pp | 68.9%-18.2pp |
| Annual return | 12.57% | 27.21%-14.6pp | 46.84%-34.3pp | 26.06%-13.5pp |
| Employer contribution / active EE | $0 | $4,662-100.0% | $6,442-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $3,263 | $6,859-52.4% | $9,284-64.9% | $4,274-23.6% |
| Admin fee / account holder | $16,797 | $17,052-1.5% | $19,076-11.9% | $7,775+116.0% |