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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,050 | $45,602-47.3% | $117,490-79.5% | $66,923-64.1% |
| Participation rate | 44.4% | 57.6%-13.2pp | 70.6%-26.1pp | 69.8%-25.4pp |
| Annual return | -18.71% | -16.74%-2.0pp | 29.75%-48.5pp | 1.58%-20.3pp |
| Employer contribution / active EE | $191 | $1,579-87.9% | $4,177-95.4% | $2,545-92.5% |
| Participant deferral / active EE | $1,694 | $2,845-40.5% | $4,071-58.4% | $4,237-60.0% |
| Admin fee / account holder | $3,405 | $661+415.4% | $5,646-39.7% | $593+473.9% |