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 | $143,969-35.3% | $199,883-53.4% | $82,637+12.8% |
| Participation rate | 50.8% | 84.1%-33.4pp | 86.8%-36.0pp | 68.1%-17.3pp |
| Annual return | 12.57% | 25.67%-13.1pp | 43.81%-31.2pp | 53.51%-40.9pp |
| Employer contribution / active EE | $0 | $4,632-100.0% | $6,261-100.0% | $2,552-100.0% |
| Participant deferral / active EE | $3,263 | $6,937-53.0% | $9,138-64.3% | $4,126-20.9% |
| Admin fee / account holder | $16,797 | $14,597+15.1% | $17,268-2.7% | $7,339+128.9% |