Filed January 3, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,248 | $42,383-66.4% | $76,523-81.4% | $64,181-77.8% |
| Participation rate | 56.9% | 58.1%-1.2pp | 68.0%-11.1pp | 69.6%-12.6pp |
| Annual return | -9.03% | -16.54%+7.5pp | -0.27%-8.8pp | 7.63%-16.7pp |
| Employer contribution / active EE | $1,394 | $1,563-10.8% | $2,647-47.3% | $2,381-41.4% |
| Participant deferral / active EE | $2,827 | $2,566+10.2% | $3,835-26.3% | $3,470-18.5% |
| Admin fee / account holder | $330 | $3,198-89.7% | $4,848-93.2% | $4,887-93.2% |