Filed December 2, 2021
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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.)
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 | $9,758 | $64,920-85.0% | $103,693-90.6% | $86,983-88.8% |
| Participation rate | 69.6% | 63.6%+6.1pp | 72.6%-3.0pp | 69.5%+0.1pp |
| Annual return | 12.71% | 30.29%-17.6pp | 47.61%-34.9pp | 25.83%-13.1pp |
| Employer contribution / active EE | $17 | $2,141-99.2% | $2,920-99.4% | $2,584-99.3% |
| Participant deferral / active EE | $981 | $3,241-69.7% | $4,579-78.6% | $4,194-76.6% |
| Admin fee / account holder | $2,235 | $6,191-63.9% | $7,858-71.6% | $7,856-71.5% |