Filed March 17, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $56,372 | $73,787-23.6% | $98,716-42.9% | $82,448-31.6% |
| Participation rate | 51.3% | 61.4%-10.1pp | 69.3%-18.0pp | 68.1%-16.8pp |
| Annual return | 21.99% | 18.57%+3.4pp | 31.81%-9.8pp | 41.64%-19.6pp |
| Employer contribution / active EE | $0 | $1,511-100.0% | $2,279-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $1,951 | $3,081-36.7% | $4,048-51.8% | $4,139-52.9% |
| Admin fee / account holder | $1,052 | $6,500-83.8% | $8,703-87.9% | $7,234-85.5% |