Filed March 31, 2023
Total covered: 7 employees
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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 | $29,028 | $48,267-39.9% | $68,808-57.8% | $68,486-57.6% |
| Participation rate | 31.6% | 60.7%-29.1pp | 69.0%-37.4pp | 67.9%-36.3pp |
| Annual return | -14.40% | -12.70%-1.7pp | -6.37%-8.0pp | -7.85%-6.5pp |
| Employer contribution / active EE | $321 | $1,829-82.4% | $2,656-87.9% | $2,597-87.6% |
| Participant deferral / active EE | $1,108 | $2,867-61.3% | $3,942-71.9% | $4,028-72.5% |
| Admin fee / account holder | $1,241 | $4,362-71.5% | $4,936-74.8% | $5,404-77.0% |