Filed April 28, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,903 | $81,262-73.0% | $155,602-85.9% | $80,911-72.9% |
| Participation rate | 37.3% | 66.2%-29.0pp | 78.2%-40.9pp | 67.6%-30.4pp |
| Annual return | 4.50% | 33.34%-28.8pp | 64.81%-60.3pp | 35.63%-31.1pp |
| Employer contribution / active EE | $0 | $3,102-100.0% | $4,675-100.0% | $2,756-100.0% |
| Participant deferral / active EE | $1,945 | $3,451-43.7% | $5,629-65.5% | $4,297-54.7% |
| Admin fee / account holder | $7,503 | $7,992-6.1% | $15,923-52.9% | $6,935+8.2% |