Filed December 17, 2020
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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 | $15,365 | $52,678-70.8% | $75,784-79.7% | $59,633-74.2% |
| Participation rate | 41.4% | 67.2%-25.8pp | 75.8%-34.4pp | 68.7%-27.3pp |
| Annual return | -4.06% | 2.95%-7.0pp | 9.68%-13.7pp | 2041.40%-2045.5pp |
| Employer contribution / active EE | $295 | $2,193-86.6% | $3,323-91.1% | $2,203-86.6% |
| Participant deferral / active EE | $2,156 | $2,591-16.8% | $3,652-41.0% | $3,192-32.4% |
| Admin fee / account holder | $2,848 | $3,610-21.1% | $5,300-46.3% | $4,297-33.7% |