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 | $18,210 | $95,406-80.9% | $185,849-90.2% | $85,847-78.8% |
| Participation rate | 22.9% | 68.8%-45.8pp | 81.7%-58.8pp | 69.3%-46.4pp |
| Annual return | 15.31% | 23.59%-8.3pp | 122.10%-106.8pp | 318.61%-303.3pp |
| Employer contribution / active EE | $305 | $3,314-90.8% | $5,169-94.1% | $2,565-88.1% |
| Participant deferral / active EE | $1,062 | $3,424-69.0% | $5,569-80.9% | $3,952-73.1% |
| Admin fee / account holder | $1,889 | $7,214-73.8% | $16,244-88.4% | $6,261-69.8% |