Filed October 17, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $12,305 | $153,769-92.0% | $133,975-90.8% | $273,972-95.5% |
| Participation rate | 8.7% | 88.4%-79.7pp | 87.1%-78.4pp | 83.0%-74.3pp |
| Annual return | -10.84% | 36.51%-47.4pp | 29.29%-40.1pp | 41.46%-52.3pp |
| Employer contribution / active EE | $0 | $6,029-100.0% | $5,211-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $100 | $6,958-98.6% | $6,282-98.4% | $5,287-98.1% |
| Admin fee / account holder | $2,192 | $11,765-81.4% | $9,324-76.5% | $10,133-78.4% |