Filed August 15, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,819 | $91,439-91.4% | $135,974-94.2% | $71,511-89.1% |
| Participation rate | 61.6% | 75.7%-14.1pp | 81.9%-20.3pp | 67.9%-6.4pp |
| Annual return | 73.17% | 29.90%+43.3pp | 68.30%+4.9pp | 28.86%+44.3pp |
| Employer contribution / active EE | $0 | $3,705-100.0% | $4,859-100.0% | $2,589-100.0% |
| Participant deferral / active EE | $2,625 | $7,093-63.0% | $7,760-66.2% | $4,291-38.8% |
| Admin fee / account holder | $138 | $1,267-89.1% | $10,767-98.7% | $1,588-91.3% |