Filed October 18, 2023
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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 | $25,702 | $84,236-69.5% | $170,439-84.9% | $70,124-63.3% |
| Participation rate | 33.3% | 70.8%-37.5pp | 83.6%-50.3pp | 69.5%-36.2pp |
| Annual return | 24.98% | 23.06%+1.9pp | 205.94%-181.0pp | 73.14%-48.2pp |
| Employer contribution / active EE | $0 | $3,387-100.0% | $5,433-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $1,476 | $3,086-52.2% | $4,939-70.1% | $3,332-55.7% |
| Admin fee / account holder | $807 | $5,698-85.8% | $13,881-94.2% | $4,645-82.6% |