Filed July 13, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,784 | $36,767+5.5% | $81,473-52.4% | $62,293-37.7% |
| Participation rate | 8.9% | 54.4%-45.5pp | 68.0%-59.0pp | 69.5%-60.6pp |
| Annual return | 16.91% | 173.80%-156.9pp | 38.78%-21.9pp | 28.90%-12.0pp |
| Employer contribution / active EE | $133 | $1,128-88.3% | $2,568-94.8% | $2,042-93.5% |
| Participant deferral / active EE | $780 | $2,111-63.0% | $3,537-77.9% | $3,169-75.4% |
| Admin fee / account holder | $345 | $797-56.8% | $4,561-92.4% | $479-28.1% |