Filed March 3, 2021
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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.)
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 | $13,067 | $124,330-89.5% | $109,173-88.0% | $167,536-92.2% |
| Participation rate | 30.8% | 79.5%-48.7pp | 75.9%-45.1pp | 82.1%-51.3pp |
| Annual return | 11.85% | 26.04%-14.2pp | 25.75%-13.9pp | 478.82%-467.0pp |
| Employer contribution / active EE | $1,099 | $4,209-73.9% | $3,723-70.5% | $4,839-77.3% |
| Participant deferral / active EE | $1,330 | $5,256-74.7% | $4,654-71.4% | $6,342-79.0% |
| Admin fee / account holder | $2,831 | $7,974-64.5% | $6,755-58.1% | $12,315-77.0% |