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 | $94,031+89.4% | $115,768+53.8% | $82,448+116.0% |
| Participation rate | 56.5% | 70.4%-14.0pp | 74.4%-17.9pp | 68.1%-11.6pp |
| Annual return | 9.60% | 20.61%-11.0pp | 100.46%-90.9pp | 41.64%-32.0pp |
| Employer contribution / active EE | $524 | $2,323-77.5% | $2,940-82.2% | $2,551-79.5% |
| Participant deferral / active EE | $2,764 | $3,972-30.4% | $4,917-43.8% | $4,139-33.2% |
| Admin fee / account holder | $32,887 | $10,249+220.9% | $12,439+164.4% | $7,234+354.6% |