Filed October 27, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $58,452 | $88,672-34.1% | $105,223-44.4% | $82,448-29.1% |
| Participation rate | 21.8% | 67.9%-46.1pp | 75.0%-53.2pp | 68.1%-46.2pp |
| Annual return | 19.41% | 30.86%-11.4pp | 180.65%-161.2pp | 41.64%-22.2pp |
| Employer contribution / active EE | $700 | $3,048-77.0% | $3,689-81.0% | $2,551-72.5% |
| Participant deferral / active EE | $2,340 | $4,036-42.0% | $5,072-53.9% | $4,139-43.5% |
| Admin fee / account holder | $4,199 | $7,146-41.2% | $8,859-52.6% | $7,234-42.0% |