Filed November 15, 2019
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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.)
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 | $18,617 | $76,551-75.7% | $123,894-85.0% | $62,881-70.4% |
| Participation rate | 51.0% | 73.0%-21.9pp | 81.4%-30.4pp | 69.3%-18.3pp |
| Annual return | 11.13% | 18.68%-7.5pp | 47.52%-36.4pp | 20.14%-9.0pp |
| Employer contribution / active EE | $420 | $2,882-85.4% | $4,617-90.9% | $2,281-81.6% |
| Participant deferral / active EE | $2,046 | $4,840-57.7% | $5,984-65.8% | $3,203-36.1% |
| Admin fee / account holder | $5,020 | $4,826+4.0% | $8,357-39.9% | $4,296+16.9% |