Filed March 8, 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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,680 | $149,446-63.4% | $256,809-78.7% | $94,015-41.8% |
| Participation rate | 44.3% | 85.3%-41.0pp | 88.5%-44.2pp | 70.8%-26.5pp |
| Annual return | 9.77% | 17.55%-7.8pp | 32.73%-23.0pp | 17.84%-8.1pp |
| Employer contribution / active EE | $1,690 | $4,596-63.2% | $7,263-76.7% | $2,790-39.4% |
| Participant deferral / active EE | $1,584 | $6,491-75.6% | $9,520-83.4% | $4,249-62.7% |
| Admin fee / account holder | $1,126 | $24,035-95.3% | $25,146-95.5% | $8,951-87.4% |