Filed July 13, 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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $148,847 | $57,590+158.5% | $86,233+72.6% | $82,448+80.5% |
| Participation rate | 20.0% | 57.9%-37.9pp | 69.0%-49.0pp | 68.1%-48.1pp |
| Annual return | 12.41% | 22.41%-10.0pp | 61.39%-49.0pp | 41.64%-29.2pp |
| Employer contribution / active EE | $556 | $1,655-66.4% | $2,504-77.8% | $2,551-78.2% |
| Participant deferral / active EE | $2,755 | $3,080-10.5% | $4,559-39.6% | $4,139-33.4% |
| Admin fee / account holder | $30,118 | $4,730+536.7% | $8,342+261.0% | $7,234+316.3% |