Filed July 13, 2023
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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 | $110,094 | $59,456+85.2% | $93,669+17.5% | $74,429+47.9% |
| Participation rate | 32.2% | 59.6%-27.5pp | 68.7%-36.5pp | 67.2%-35.0pp |
| Annual return | 8.48% | 82.00%-73.5pp | 133.59%-125.1pp | 1368.38%-1359.9pp |
| Employer contribution / active EE | $145 | $1,266-88.6% | $2,424-94.0% | $2,625-94.5% |
| Participant deferral / active EE | $2,050 | $3,052-32.8% | $4,416-53.6% | $4,348-52.9% |
| Admin fee / account holder | $5,026 | $3,026+66.1% | $8,291-39.4% | $1,944+158.5% |