Filed January 4, 2023
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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.)
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 | $24,190 | $146,267-83.5% | $197,124-87.7% | $82,448-70.7% |
| Participation rate | 69.7% | 84.0%-14.3pp | 86.7%-17.0pp | 68.1%+1.6pp |
| Annual return | 16.90% | 29.61%-12.7pp | 44.34%-27.4pp | 41.64%-24.7pp |
| Employer contribution / active EE | $1,891 | $4,723-60.0% | $6,227-69.6% | $2,551-25.9% |
| Participant deferral / active EE | $3,056 | $7,035-56.6% | $9,135-66.5% | $4,139-26.2% |
| Admin fee / account holder | $1,846 | $14,422-87.2% | $16,298-88.7% | $7,234-74.5% |