Wow glitterkitty, we must be sharing a brain...I totally agree with everything you just said.
I know the first time I saw awards for "pledge retention" I didn't understand it...because the entire time I was in school we never had anyone depledge, and even after that I could count the number on my fingers. I just assumed all chapters were like that. Was it ever a shock to hear that some of these chapters that are so lauded for making quota on bid day don't keep half those girls till initiation, and have more terminate after that!! we had the same experience, smaller numbers pledged but larger amount retained.
I think that usually 80-90% is considered award worthy.
Edited to add I just realized that glitter & glitterkitty are 2 different people. But I agree with both of you.