Filed March 11, 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 | $21,913 | $45,872-52.2% | $77,081-71.6% | $68,495-68.0% |
| Participation rate | 24.0% | 55.9%-32.0pp | 67.9%-44.0pp | 67.9%-43.9pp |
| Annual return | -27.54% | 1.73%-29.3pp | 42.33%-69.9pp | -7.84%-19.7pp |
| Employer contribution / active EE | $59 | $1,650-96.4% | $2,813-97.9% | $2,596-97.7% |
| Participant deferral / active EE | $2,674 | $2,963-9.8% | $4,428-39.6% | $4,028-33.6% |
| Admin fee / account holder | $5,259 | $3,041+72.9% | $5,427-3.1% | $5,403-2.7% |