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 | $96,731-80.3% | $123,973-84.6% | $86,983-78.1% |
| Participation rate | 56.4% | 70.0%-13.6pp | 76.7%-20.2pp | 69.5%-13.1pp |
| Annual return | 21.28% | 17.33%+4.0pp | 388.13%-366.8pp | 25.83%-4.5pp |
| Employer contribution / active EE | $1,387 | $3,297-57.9% | $4,126-66.4% | $2,584-46.3% |
| Participant deferral / active EE | $2,297 | $4,152-44.7% | $5,247-56.2% | $4,194-45.2% |
| Admin fee / account holder | $727 | $8,722-91.7% | $11,799-93.8% | $7,856-90.7% |