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 | $37,171 | $33,067+12.4% | $76,518-51.4% | $56,287-34.0% |
| Participation rate | 10.3% | 55.4%-45.1pp | 68.0%-57.7pp | 69.9%-59.6pp |
| Annual return | -6.44% | 2.72%-9.2pp | -0.27%-6.2pp | -9.96%+3.5pp |
| Employer contribution / active EE | $171 | $1,200-85.8% | $2,647-93.6% | $2,111-91.9% |
| Participant deferral / active EE | $843 | $2,240-62.4% | $3,836-78.0% | $3,350-74.8% |
| Admin fee / account holder | $538 | $537+0.2% | $4,849-88.9% | $521+3.3% |