Filed May 16, 2022
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,160 | $94,529-59.6% | $140,019-72.7% | $64,173-40.5% |
| Participation rate | 66.0% | 84.1%-18.1pp | 87.5%-21.5pp | 69.6%-3.6pp |
| Annual return | -6.74% | 7.77%-14.5pp | 651.15%-657.9pp | 7.63%-14.4pp |
| Employer contribution / active EE | $1,068 | $3,812-72.0% | $5,605-81.0% | $2,381-55.2% |
| Participant deferral / active EE | $3,260 | $5,250-37.9% | $6,927-52.9% | $3,470-6.0% |
| Admin fee / account holder | $6,229 | $6,741-7.6% | $10,705-41.8% | $4,887+27.5% |