Filed November 22, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,716 | $41,377-52.4% | $109,313-82.0% | $62,881-68.6% |
| Participation rate | 35.9% | 57.5%-21.6pp | 71.3%-35.4pp | 69.3%-33.4pp |
| Annual return | 2.82% | 11.05%-8.2pp | 22.07%-19.2pp | 20.14%-17.3pp |
| Employer contribution / active EE | $165 | $1,276-87.1% | $3,892-95.8% | $2,281-92.8% |
| Participant deferral / active EE | $1,234 | $2,045-39.6% | $3,166-61.0% | $3,203-61.5% |
| Admin fee / account holder | $1,344 | $2,884-53.4% | $5,666-76.3% | $4,296-68.7% |