Filed May 6, 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 | $80,270 | $46,877+71.2% | $122,354-34.4% | $70,126+14.5% |
| Participation rate | 23.2% | 58.2%-35.0pp | 71.6%-48.4pp | 69.5%-46.3pp |
| Annual return | 12.70% | 24.22%-11.5pp | 30.28%-17.6pp | 73.15%-60.4pp |
| Employer contribution / active EE | $671 | $1,288-47.9% | $4,051-83.4% | $2,343-71.3% |
| Participant deferral / active EE | $1,895 | $2,167-12.6% | $3,287-42.4% | $3,332-43.1% |
| Admin fee / account holder | $4,510 | $3,324+35.7% | $5,479-17.7% | $4,645-2.9% |