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 | $17,676 | $91,559-80.7% | $133,971-86.8% | $79,852-77.9% |
| Participation rate | 68.1% | 73.3%-5.3pp | 79.8%-11.8pp | 69.6%-1.6pp |
| Annual return | 22.01% | 61.85%-39.8pp | 45.09%-23.1pp | 31.72%-9.7pp |
| Employer contribution / active EE | $641 | $2,384-73.1% | $3,919-83.6% | $2,471-74.1% |
| Participant deferral / active EE | $2,112 | $3,734-43.4% | $5,047-58.2% | $3,740-43.5% |
| Admin fee / account holder | $318 | $6,321-95.0% | $8,929-96.4% | $5,306-94.0% |