Filed April 1, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $2,725 | $29,546-90.8% | $56,441-95.2% | $77,671-96.5% |
| Participation rate | 1.2% | 32.7%-31.4pp | 52.5%-51.3pp | 70.6%-69.3pp |
| Annual return | 8.31% | 19.01%-10.7pp | 1704.21%-1695.9pp | 31.21%-22.9pp |
| Employer contribution / active EE | $0 | $568-100.0% | $1,039-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $45 | $1,061-95.8% | $1,953-97.7% | $4,648-99.0% |
| Admin fee / account holder | $4,320 | $1,046+312.9% | $2,829+52.7% | $430+903.7% |