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 | $146,267-62.6% | $197,124-72.3% | $82,448-33.7% |
| Participation rate | 44.3% | 84.0%-39.7pp | 86.7%-42.4pp | 68.1%-23.7pp |
| Annual return | 9.77% | 29.61%-19.8pp | 44.34%-34.6pp | 41.64%-31.9pp |
| Employer contribution / active EE | $1,690 | $4,723-64.2% | $6,227-72.9% | $2,551-33.7% |
| Participant deferral / active EE | $1,584 | $7,035-77.5% | $9,135-82.7% | $4,139-61.7% |
| Admin fee / account holder | $1,126 | $14,422-92.2% | $16,298-93.1% | $7,234-84.4% |