Filed May 3, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,376 | $212,386-70.6% | $199,883-68.8% | $138,895-55.1% |
| Participation rate | 54.2% | 87.4%-33.2pp | 86.8%-32.6pp | 79.9%-25.8pp |
| Annual return | 38.68% | 47.75%-9.1pp | 43.81%-5.1pp | 145.39%-106.7pp |
| Employer contribution / active EE | $1,761 | $6,625-73.4% | $6,261-71.9% | $4,194-58.0% |
| Participant deferral / active EE | $2,473 | $9,617-74.3% | $9,138-72.9% | $6,396-61.3% |
| Admin fee / account holder | $2,118 | $18,233-88.4% | $17,268-87.7% | $12,562-83.1% |