Filed June 9, 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.)
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 | $6,250 | $35,183-82.2% | $73,550-91.5% | $70,126-91.1% |
| Participation rate | 0.0% | 42.9%-42.9pp | 54.9%-54.9pp | 69.5%-69.5pp |
| Annual return | 18.36% | 26.90%-8.5pp | -15.16%+33.5pp | 73.15%-54.8pp |
| Employer contribution / active EE | $0 | $709-100.0% | $1,219-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $489 | $1,220-60.0% | $1,804-72.9% | $3,332-85.3% |
| Admin fee / account holder | $965 | $2,302-58.1% | $2,320-58.4% | $4,645-79.2% |