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 | $81,276-49.2% | $155,574-73.5% | $80,925-49.0% |
| Participation rate | 12.3% | 66.2%-53.9pp | 78.2%-65.9pp | 67.7%-55.3pp |
| Annual return | 15.90% | 33.36%-17.5pp | 64.87%-49.0pp | 35.65%-19.7pp |
| Employer contribution / active EE | $255 | $3,103-91.8% | $4,676-94.6% | $2,756-90.8% |
| Participant deferral / active EE | $966 | $3,453-72.0% | $5,629-82.8% | $4,299-77.5% |
| Admin fee / account holder | $2,751 | $7,993-65.6% | $15,914-82.7% | $6,940-60.4% |