Filed May 24, 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 | $39,720 | $61,391-35.3% | $149,723-73.5% | $71,529-44.5% |
| Participation rate | 46.4% | 62.5%-16.1pp | 78.8%-32.4pp | 67.9%-21.5pp |
| Annual return | 0.00% | 35.88%-35.9pp | 134.50%-134.5pp | 28.97%-29.0pp |
| Employer contribution / active EE | $306 | $2,384-87.2% | $4,821-93.7% | $2,590-88.2% |
| Participant deferral / active EE | $1,975 | $2,921-32.4% | $5,682-65.2% | $4,291-54.0% |
| Admin fee / account holder | $747 | $1,264-40.9% | $13,215-94.3% | $1,588-53.0% |