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 | $227,291-72.6% | $214,702-70.9% | $155,188-59.8% |
| Participation rate | 54.2% | 88.0%-33.8pp | 87.5%-33.3pp | 80.8%-26.6pp |
| Annual return | 38.68% | 60.08%-21.4pp | 54.55%-15.9pp | 148.84%-110.2pp |
| Employer contribution / active EE | $1,761 | $6,772-74.0% | $6,461-72.7% | $4,248-58.5% |
| Participant deferral / active EE | $2,473 | $9,582-74.2% | $9,147-73.0% | $6,531-62.1% |
| Admin fee / account holder | $2,118 | $20,413-89.6% | $19,830-89.3% | $14,480-85.4% |