Filed June 14, 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,422 | $63,924-79.0% | $108,582-87.6% | $55,167-75.7% |
| Participation rate | 56.0% | 74.3%-18.3pp | 79.6%-23.6pp | 69.0%-13.0pp |
| Annual return | 6.29% | 15.31%-9.0pp | -51.70%+58.0pp | 169.23%-162.9pp |
| Employer contribution / active EE | $276 | $1,879-85.3% | $3,758-92.6% | $1,963-85.9% |
| Participant deferral / active EE | $2,091 | $3,067-31.8% | $4,311-51.5% | $3,054-31.5% |
| Admin fee / account holder | $386 | $618-37.5% | $7,645-95.0% | $504-23.4% |