Filed April 4, 2023 (most recent of 2 filings on file)
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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 | $19,052 | $110,337-82.7% | $102,383-81.4% | $145,877-86.9% |
| Participation rate | 60.0% | 77.9%-17.9pp | 74.5%-14.5pp | 80.3%-20.3pp |
| Annual return | 5.79% | 24.83%-19.0pp | 24.94%-19.1pp | 551.28%-545.5pp |
| Employer contribution / active EE | $246 | $4,216-94.2% | $3,870-93.6% | $4,663-94.7% |
| Participant deferral / active EE | $4,014 | $5,621-28.6% | $5,060-20.7% | $6,691-40.0% |
| Admin fee / account holder | $7,836 | $9,750-19.6% | $8,391-6.6% | $13,402-41.5% |