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 | $47,453 | $79,189-40.1% | $102,457-53.7% | $74,400-36.2% |
| Participation rate | 59.1% | 74.8%-15.7pp | 76.5%-17.4pp | 67.2%-8.2pp |
| Annual return | 15.72% | 54.98%-39.3pp | 29.41%-13.7pp | 1367.51%-1351.8pp |
| Employer contribution / active EE | $402 | $2,362-83.0% | $3,022-86.7% | $2,624-84.7% |
| Participant deferral / active EE | $2,347 | $4,415-46.8% | $5,054-53.6% | $4,348-46.0% |
| Admin fee / account holder | $11,276 | $2,002+463.2% | $9,451+19.3% | $1,944+480.2% |