Filed April 19, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,197 | $50,919-42.7% | $155,556-81.2% | $77,762-62.5% |
| Participation rate | 6.1% | 63.1%-56.9pp | 78.2%-72.1pp | 70.6%-64.4pp |
| Annual return | 11.10% | 34.84%-23.7pp | 64.84%-53.7pp | 31.27%-20.2pp |
| Employer contribution / active EE | $0 | $1,991-100.0% | $4,675-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $266 | $2,824-90.6% | $5,631-95.3% | $4,651-94.3% |
| Admin fee / account holder | $433 | $437-0.9% | $15,885-97.3% | $4330% |