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 | $14,609 | $81,487-82.1% | $102,412-85.7% | $80,935-81.9% |
| Participation rate | 61.3% | 66.8%-5.6pp | 74.5%-13.2pp | 67.7%-6.4pp |
| Annual return | 18.03% | 25.60%-7.6pp | 24.94%-6.9pp | 35.66%-17.6pp |
| Employer contribution / active EE | $1,529 | $3,103-50.7% | $3,870-60.5% | $2,757-44.5% |
| Participant deferral / active EE | $2,232 | $3,871-42.3% | $5,060-55.9% | $4,299-48.1% |
| Admin fee / account holder | $1,332 | $6,717-80.2% | $8,388-84.1% | $6,924-80.8% |