Filed May 16, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,143 | $59,819-78.0% | $79,583-83.5% | $68,490-80.8% |
| Participation rate | 56.4% | 61.1%-4.7pp | 69.5%-13.1pp | 67.9%-11.5pp |
| Annual return | -25.09% | -12.30%-12.8pp | 0.16%-25.3pp | -7.85%-17.2pp |
| Employer contribution / active EE | $0 | $1,505-100.0% | $2,414-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $1,829 | $3,025-39.5% | $3,986-54.1% | $4,028-54.6% |
| Admin fee / account holder | $2,051 | $4,835-57.6% | $6,835-70.0% | $5,403-62.0% |