Filed January 13, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $35,824 | $114,712-68.8% | $173,730-79.4% | $87,485-59.1% |
| Participation rate | 66.7% | 73.0%-6.3pp | 79.6%-12.9pp | 68.9%-2.3pp |
| Annual return | 17.20% | 20.18%-3.0pp | 19.96%-2.8pp | 26.06%-8.9pp |
| Employer contribution / active EE | $1,270 | $2,904-56.3% | $4,577-72.3% | $2,596-51.1% |
| Participant deferral / active EE | $3,685 | $4,642-20.6% | $6,326-41.7% | $4,274-13.8% |
| Admin fee / account holder | $4,370 | $10,210-57.2% | $17,523-75.1% | $7,775-43.8% |