Filed March 14, 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,851 | $92,219-90.4% | $76,766-88.5% | $135,382-93.5% |
| Participation rate | 58.3% | 79.8%-21.4pp | 77.0%-18.6pp | 82.6%-24.3pp |
| Annual return | -5.43% | 5.46%-10.9pp | 2.43%-7.9pp | 519.77%-525.2pp |
| Employer contribution / active EE | $0 | $3,216-100.0% | $2,485-100.0% | $4,779-100.0% |
| Participant deferral / active EE | $3,554 | $4,508-21.2% | $3,851-7.7% | $5,609-36.6% |
| Admin fee / account holder | $1,434 | $10,749-86.7% | $6,675-78.5% | $10,829-86.8% |