Filed July 7, 2022
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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 | $40,285 | $45,119-10.7% | $85,126-52.7% | $74,429-45.9% |
| Participation rate | 23.1% | 49.4%-26.2pp | 67.5%-44.4pp | 67.2%-44.1pp |
| Annual return | 12.69% | 26.28%-13.6pp | 66.63%-53.9pp | 1368.38%-1355.7pp |
| Employer contribution / active EE | $143 | $1,460-90.2% | $2,731-94.8% | $2,625-94.5% |
| Participant deferral / active EE | $1,220 | $2,738-55.4% | $4,523-73.0% | $4,348-71.9% |
| Admin fee / account holder | $4,369 | $2,214+97.4% | $6,160-29.1% | $1,944+124.7% |