Filed September 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $178,079 | $97,648+82.4% | $121,663+46.4% | $87,485+103.6% |
| Participation rate | 56.5% | 70.5%-14.0pp | 74.5%-18.0pp | 68.9%-12.5pp |
| Annual return | 9.60% | 18.03%-8.4pp | 147.54%-137.9pp | 26.06%-16.5pp |
| Employer contribution / active EE | $524 | $2,300-77.2% | $3,020-82.7% | $2,596-79.8% |
| Participant deferral / active EE | $2,764 | $3,923-29.6% | $4,887-43.4% | $4,274-35.3% |
| Admin fee / account holder | $32,887 | $11,100+196.3% | $14,289+130.2% | $7,775+323.0% |