Filed May 5, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $44,030 | $85,515-48.5% | $112,040-60.7% | $67,986-35.2% |
| Participation rate | 54.0% | 68.2%-14.2pp | 76.5%-22.5pp | 57.2%-3.2pp |
| Annual return | 17.51% | 29.68%-12.2pp | 24.52%-7.0pp | 31.67%-14.2pp |
| Employer contribution / active EE | $409 | $2,191-81.3% | $2,954-86.2% | $2,019-79.7% |
| Participant deferral / active EE | $2,457 | $4,014-38.8% | $5,098-51.8% | $3,358-26.8% |
| Admin fee / account holder | $17,674 | $3,774+368.4% | $12,098+46.1% | $3,203+451.8% |