Filed May 10, 2022
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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 | $53,326 | $98,776-46.0% | $149,745-64.4% | $79,856-33.2% |
| Participation rate | 58.2% | 75.8%-17.6pp | 82.5%-24.3pp | 69.6%-11.5pp |
| Annual return | 14.18% | 27.38%-13.2pp | 276.72%-262.5pp | 31.71%-17.5pp |
| Employer contribution / active EE | $38 | $3,217-98.8% | $4,646-99.2% | $2,471-98.5% |
| Participant deferral / active EE | $3,482 | $5,681-38.7% | $6,843-49.1% | $3,741-6.9% |
| Admin fee / account holder | $15,427 | $6,053+154.9% | $9,312+65.7% | $5,306+190.7% |