Filed September 16, 2022
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $82,541 | $70,435+17.2% | $96,575-14.5% | $85,856-3.9% |
| Participation rate | 38.1% | 61.8%-23.7pp | 69.8%-31.7pp | 69.3%-31.2pp |
| Annual return | 8.87% | 18.59%-9.7pp | 37.79%-28.9pp | 318.58%-309.7pp |
| Employer contribution / active EE | $652 | $1,413-53.8% | $2,357-72.3% | $2,565-74.6% |
| Participant deferral / active EE | $3,086 | $2,894+6.6% | $3,849-19.8% | $3,952-21.9% |
| Admin fee / account holder | $1,645 | $4,997-67.1% | $6,182-73.4% | $6,261-73.7% |