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 | $109,620+62.5% | $148,496+19.9% | $94,015+89.4% |
| Participation rate | 56.5% | 71.3%-14.8pp | 76.0%-19.6pp | 70.8%-14.4pp |
| Annual return | 9.60% | 17.54%-7.9pp | 12.33%-2.7pp | 17.84%-8.2pp |
| Employer contribution / active EE | $524 | $2,618-80.0% | $3,497-85.0% | $2,790-81.2% |
| Participant deferral / active EE | $2,764 | $3,831-27.9% | $4,808-42.5% | $4,249-35.0% |
| Admin fee / account holder | $32,887 | $10,050+227.2% | $19,547+68.2% | $8,951+267.4% |