Filed April 27, 2022 (most recent of 2 filings on file)
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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 | $80,296 | $67,602+18.8% | $82,312-2.4% | $70,126+14.5% |
| Participation rate | 40.0% | 72.8%-32.8pp | 76.9%-36.9pp | 69.5%-29.5pp |
| Annual return | 11.52% | 21.57%-10.0pp | 25.88%-14.4pp | 73.15%-61.6pp |
| Employer contribution / active EE | $0 | $1,755-100.0% | $2,428-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $2,041 | $2,987-31.7% | $3,706-44.9% | $3,332-38.7% |
| Admin fee / account holder | $9,935 | $4,512+120.2% | $5,608+77.2% | $4,645+113.9% |