Filed February 18, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $5,678 | $67,606-91.6% | $82,313-93.1% | $70,124-91.9% |
| Participation rate | 56.0% | 72.8%-16.8pp | 76.9%-20.9pp | 69.5%-13.5pp |
| Annual return | 20.41% | 21.57%-1.2pp | 25.88%-5.5pp | 73.14%-52.7pp |
| Employer contribution / active EE | $470 | $1,755-73.2% | $2,428-80.6% | $2,342-79.9% |
| Participant deferral / active EE | $1,115 | $2,987-62.7% | $3,706-69.9% | $3,332-66.5% |
| Admin fee / account holder | $327 | $4,512-92.8% | $5,608-94.2% | $4,645-93.0% |