Filed March 24, 2023
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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 | $145,629 | $72,269+101.5% | $101,271+43.8% | $79,852+82.4% |
| Participation rate | 65.3% | 68.5%-3.2pp | 75.8%-10.5pp | 69.6%-4.4pp |
| Annual return | 21.26% | 22.29%-1.0pp | 46.48%-25.2pp | 31.72%-10.5pp |
| Employer contribution / active EE | $0 | $2,692-100.0% | $3,660-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $5,923 | $3,282+80.5% | $4,371+35.5% | $3,740+58.3% |
| Admin fee / account holder | $1,842 | $4,401-58.1% | $5,948-69.0% | $5,306-65.3% |