Filed July 12, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $2,431 | $76,608-96.8% | $56,077-95.7% | $145,877-98.3% |
| Participation rate | 20.0% | 63.2%-43.2pp | 52.5%-32.5pp | 80.3%-60.3pp |
| Annual return | -60.70% | 3009.59%-3070.3pp | 1709.28%-1770.0pp | 551.28%-612.0pp |
| Employer contribution / active EE | $277 | $1,382-80.0% | $1,040-73.4% | $4,663-94.1% |
| Participant deferral / active EE | $94 | $2,624-96.4% | $1,954-95.2% | $6,691-98.6% |
| Admin fee / account holder | $12,324 | $3,325+270.6% | $2,825+336.2% | $13,402-8.0% |