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.)
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 | $14,377 | $87,834-83.6% | $133,975-89.3% | $62,881-77.1% |
| Participation rate | 49.4% | 83.4%-34.0pp | 87.1%-37.7pp | 69.3%-19.9pp |
| Annual return | 5.24% | 12.05%-6.8pp | 29.29%-24.1pp | 20.14%-14.9pp |
| Employer contribution / active EE | $0 | $3,482-100.0% | $5,211-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $702 | $4,812-85.4% | $6,282-88.8% | $3,203-78.1% |
| Admin fee / account holder | $3,671 | $5,372-31.7% | $9,324-60.6% | $4,296-14.5% |