Filed April 6, 2022 (most recent of 2 filings on file)
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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.)
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 | $23,952 | $64,890-63.1% | $134,172-82.1% | $67,986-64.8% |
| Participation rate | 28.6% | 48.5%-20.0pp | 72.5%-43.9pp | 57.2%-28.6pp |
| Annual return | 20.76% | 16.12%+4.6pp | 25.30%-4.5pp | 31.67%-10.9pp |
| Employer contribution / active EE | $804 | $1,360-40.9% | $3,420-76.5% | $2,019-60.2% |
| Participant deferral / active EE | $1,445 | $2,289-36.9% | $4,690-69.2% | $3,358-57.0% |
| Admin fee / account holder | $4,773 | $3,140+52.0% | $12,016-60.3% | $3,203+49.0% |