Filed September 8, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $41,268 | $81,358-49.3% | $155,556-73.5% | $80,959-49.0% |
| Participation rate | 12.3% | 66.3%-53.9pp | 78.2%-65.9pp | 67.7%-55.3pp |
| Annual return | 15.90% | 33.39%-17.5pp | 64.84%-48.9pp | 35.67%-19.8pp |
| Employer contribution / active EE | $255 | $3,106-91.8% | $4,675-94.6% | $2,757-90.8% |
| Participant deferral / active EE | $966 | $3,455-72.1% | $5,631-82.9% | $4,300-77.5% |
| Admin fee / account holder | $2,751 | $7,994-65.6% | $15,885-82.7% | $6,925-60.3% |