Filed March 13, 2023 (most recent of 3 filings on file)
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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.)
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 | $15,448 | $46,877-67.0% | $122,354-87.4% | $70,126-78.0% |
| Participation rate | 42.9% | 58.2%-15.4pp | 71.6%-28.8pp | 69.5%-26.7pp |
| Annual return | 15.50% | 24.22%-8.7pp | 30.28%-14.8pp | 73.15%-57.7pp |
| Employer contribution / active EE | $222 | $1,288-82.8% | $4,051-94.5% | $2,343-90.5% |
| Participant deferral / active EE | $1,582 | $2,167-27.0% | $3,287-51.9% | $3,332-52.5% |
| Admin fee / account holder | $1,247 | $3,324-62.5% | $5,479-77.2% | $4,645-73.2% |