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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $117,522 | $65,246+80.1% | $98,716+19.1% | $67,986+72.9% |
| Participation rate | 36.1% | 51.4%-15.3pp | 69.3%-33.2pp | 57.2%-21.1pp |
| Annual return | 15.38% | 20.58%-5.2pp | 31.81%-16.4pp | 31.67%-16.3pp |
| Employer contribution / active EE | $149 | $1,042-85.7% | $2,279-93.5% | $2,019-92.6% |
| Participant deferral / active EE | $2,229 | $2,594-14.1% | $4,048-44.9% | $3,358-33.6% |
| Admin fee / account holder | $22,844 | $4,561+400.9% | $8,703+162.5% | $3,203+613.2% |