Filed May 4, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,508 | $84,482-82.8% | $125,363-88.4% | $66,930-78.3% |
| Participation rate | 50.4% | 76.4%-26.0pp | 82.4%-32.0pp | 69.8%-19.4pp |
| Annual return | -2.75% | -8.49%+5.7pp | 572.15%-574.9pp | 1.57%-4.3pp |
| Employer contribution / active EE | $984 | $3,553-72.3% | $4,815-79.6% | $2,545-61.4% |
| Participant deferral / active EE | $4,132 | $6,782-39.1% | $7,447-44.5% | $4,238-2.5% |
| Admin fee / account holder | $3,225 | $685+370.9% | $10,005-67.8% | $593+443.5% |