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 | $29,525-90.8% | $56,033-95.1% | $77,736-96.5% |
| Participation rate | 1.2% | 32.7%-31.4pp | 52.5%-51.3pp | 70.6%-69.3pp |
| Annual return | 8.31% | 18.90%-10.6pp | 1711.38%-1703.1pp | 31.26%-22.9pp |
| Employer contribution / active EE | $0 | $569-100.0% | $1,041-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $45 | $1,062-95.8% | $1,954-97.7% | $4,651-99.0% |
| Admin fee / account holder | $4,320 | $1,040+315.4% | $2,827+52.8% | $433+896.9% |