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 | $142,972-61.8% | $214,702-74.5% | $86,983-37.1% |
| Participation rate | 44.3% | 84.9%-40.5pp | 87.5%-43.2pp | 69.5%-25.2pp |
| Annual return | 9.77% | 18.49%-8.7pp | 54.55%-44.8pp | 25.83%-16.1pp |
| Employer contribution / active EE | $1,690 | $4,635-63.5% | $6,461-73.8% | $2,584-34.6% |
| Participant deferral / active EE | $1,584 | $6,568-75.9% | $9,147-82.7% | $4,194-62.2% |
| Admin fee / account holder | $1,126 | $17,617-93.6% | $19,830-94.3% | $7,856-85.7% |