Filed March 13, 2023
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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 | $88,042 | $109,359-19.5% | $162,177-45.7% | $72,975+20.6% |
| Participation rate | 63.2% | 84.3%-21.1pp | 87.6%-24.4pp | 69.5%-6.3pp |
| Annual return | 20.87% | 25.46%-4.6pp | 115.60%-94.7pp | 81.01%-60.1pp |
| Employer contribution / active EE | $0 | $3,907-100.0% | $5,613-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $4,645 | $5,481-15.3% | $7,297-36.3% | $3,608+28.7% |
| Admin fee / account holder | $3,530 | $7,972-55.7% | $10,843-67.4% | $5,124-31.1% |