Filed September 29, 2022
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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.
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 | $4,287 | $48,267-91.1% | $68,794-93.8% | $68,495-93.7% |
| Participation rate | 18.2% | 60.7%-42.5pp | 69.0%-50.8pp | 67.9%-49.7pp |
| Annual return | -22.69% | -12.70%-10.0pp | -6.37%-16.3pp | -7.84%-14.9pp |
| Employer contribution / active EE | $0 | $1,829-100.0% | $2,656-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $613 | $2,867-78.6% | $3,941-84.5% | $4,028-84.8% |
| Admin fee / account holder | $446 | $4,362-89.8% | $4,934-91.0% | $5,403-91.8% |