Filed April 6, 2023
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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.)
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 | $6,318 | $72,177-91.2% | $115,038-94.5% | $59,633-89.4% |
| Participation rate | 36.0% | 72.6%-36.6pp | 81.4%-45.4pp | 68.7%-32.7pp |
| Annual return | 52.69% | 12.02%+40.7pp | 26.14%+26.5pp | 2041.45%-1988.8pp |
| Employer contribution / active EE | $518 | $2,841-81.8% | $4,608-88.8% | $2,203-76.5% |
| Participant deferral / active EE | $833 | $4,783-82.6% | $6,026-86.2% | $3,192-73.9% |
| Admin fee / account holder | $556 | $4,927-88.7% | $8,175-93.2% | $4,297-87.1% |