Filed June 12, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $28,352 | $127,386-77.7% | $115,037-75.4% | $125,388-77.4% |
| Participation rate | 66.7% | 84.2%-17.5pp | 81.4%-14.7pp | 83.2%-16.5pp |
| Annual return | -3.86% | 31.28%-35.1pp | 26.14%-30.0pp | 282.24%-286.1pp |
| Employer contribution / active EE | $1,116 | $5,166-78.4% | $4,608-75.8% | $4,866-77.1% |
| Participant deferral / active EE | $1,360 | $6,423-78.8% | $6,026-77.4% | $5,352-74.6% |
| Admin fee / account holder | $1,724 | $9,516-81.9% | $8,175-78.9% | $9,541-81.9% |