Filed February 23, 2023 (most recent of 2 filings on file)
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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.)
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 | $15,153 | $82,028-81.5% | $123,105-87.7% | $59,633-74.6% |
| Participation rate | 51.8% | 83.2%-31.4pp | 86.8%-35.0pp | 68.7%-16.9pp |
| Annual return | 8.53% | 5.12%+3.4pp | 13.22%-4.7pp | 2041.45%-2032.9pp |
| Employer contribution / active EE | $0 | $3,297-100.0% | $5,151-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $1,057 | $4,667-77.3% | $6,229-83.0% | $3,192-66.9% |
| Admin fee / account holder | $599 | $5,879-89.8% | $9,014-93.4% | $4,297-86.1% |