Filed May 9, 2019
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $5,182 | $76,551-93.2% | $123,894-95.8% | $62,881-91.8% |
| Participation rate | 52.1% | 73.0%-20.9pp | 81.4%-29.3pp | 69.3%-17.2pp |
| Annual return | -7.18% | 18.68%-25.9pp | 47.52%-54.7pp | 20.14%-27.3pp |
| Employer contribution / active EE | $717 | $2,882-75.1% | $4,617-84.5% | $2,281-68.6% |
| Participant deferral / active EE | $1,680 | $4,840-65.3% | $5,984-71.9% | $3,203-47.5% |
| Admin fee / account holder | $2,373 | $4,826-50.8% | $8,357-71.6% | $4,296-44.8% |