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 | $106,909 | $54,729+95.3% | $86,235+24.0% | $71,529+49.5% |
| Participation rate | 30.8% | 60.1%-29.3pp | 69.0%-38.2pp | 67.9%-37.2pp |
| Annual return | 11.33% | 20.07%-8.7pp | 1170.03%-1158.7pp | 28.97%-17.6pp |
| Employer contribution / active EE | $184 | $1,267-85.4% | $2,381-92.3% | $2,590-92.9% |
| Participant deferral / active EE | $2,255 | $3,110-27.5% | $3,987-43.4% | $4,291-47.4% |
| Admin fee / account holder | $5,572 | $1,921+190.0% | $6,856-18.7% | $1,588+250.7% |