Filed February 27, 2023
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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.
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 | $41,244 | $144,130-71.4% | $117,860-65.0% | $147,585-72.1% |
| Participation rate | 57.1% | 83.4%-26.3pp | 79.7%-22.5pp | 82.8%-25.7pp |
| Annual return | -61.74% | 531.20%-592.9pp | 335.10%-396.8pp | 578.58%-640.3pp |
| Employer contribution / active EE | $1,257 | $4,897-74.3% | $3,786-66.8% | $4,876-74.2% |
| Participant deferral / active EE | $475 | $5,316-91.1% | $4,482-89.4% | $5,439-91.3% |
| Admin fee / account holder | $767 | $10,887-93.0% | $8,021-90.4% | $10,886-93.0% |