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.)
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 | $13,376 | $160,059-91.6% | $140,019-90.4% | $135,382-90.1% |
| Participation rate | 60.0% | 88.5%-28.5pp | 87.5%-27.5pp | 82.6%-22.6pp |
| Annual return | -8.07% | 911.44%-919.5pp | 651.15%-659.2pp | 519.77%-527.8pp |
| Employer contribution / active EE | $1,511 | $6,420-76.5% | $5,605-73.0% | $4,779-68.4% |
| Participant deferral / active EE | $1,602 | $7,641-79.0% | $6,927-76.9% | $5,609-71.4% |
| Admin fee / account holder | $1,569 | $13,328-88.2% | $10,705-85.3% | $10,829-85.5% |