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 | $39,228 | $53,774-27.1% | $134,162-70.8% | $79,856-50.9% |
| Participation rate | 37.0% | 58.8%-21.8pp | 72.2%-35.2pp | 69.6%-32.7pp |
| Annual return | 10.03% | 19.01%-9.0pp | 36.35%-26.3pp | 31.71%-21.7pp |
| Employer contribution / active EE | $617 | $1,322-53.3% | $3,705-83.4% | $2,471-75.0% |
| Participant deferral / active EE | $1,634 | $2,420-32.5% | $3,500-53.3% | $3,741-56.3% |
| Admin fee / account holder | $15,354 | $3,985+285.3% | $6,685+129.7% | $5,306+189.3% |