Filed June 1, 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.)
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 | $19,031 | $105,284-81.9% | $150,734-87.4% | $94,015-79.8% |
| Participation rate | 56.4% | 71.7%-15.3pp | 78.4%-22.0pp | 70.8%-14.4pp |
| Annual return | 21.28% | 15.67%+5.6pp | 600.81%-579.5pp | 17.84%+3.4pp |
| Employer contribution / active EE | $1,387 | $3,599-61.5% | $4,918-71.8% | $2,790-50.3% |
| Participant deferral / active EE | $2,297 | $4,274-46.2% | $5,610-59.0% | $4,249-45.9% |
| Admin fee / account holder | $727 | $9,839-92.6% | $14,905-95.1% | $8,951-91.9% |