Filed February 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.
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 | $23,236 | $82,028-71.7% | $123,105-81.1% | $59,633-61.0% |
| Participation rate | 59.5% | 83.2%-23.7pp | 86.8%-27.3pp | 68.7%-9.2pp |
| Annual return | -4.25% | 5.12%-9.4pp | 13.22%-17.5pp | 2041.45%-2045.7pp |
| Employer contribution / active EE | $0 | $3,297-100.0% | $5,151-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $2,561 | $4,667-45.1% | $6,229-58.9% | $3,192-19.8% |
| Admin fee / account holder | $1,009 | $5,879-82.8% | $9,014-88.8% | $4,297-76.5% |