Filed February 4, 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.)
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 | $7,970 | $56,287-85.8% | $80,977-90.2% | $62,881-87.3% |
| Participation rate | 31.3% | 68.9%-37.7pp | 75.8%-44.6pp | 69.3%-38.1pp |
| Annual return | 7.54% | 22.13%-14.6pp | 17.11%-9.6pp | 20.14%-12.6pp |
| Employer contribution / active EE | $0 | $1,943-100.0% | $3,715-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,123 | $4,196-73.2% | $5,696-80.3% | $3,203-64.9% |
| Admin fee / account holder | $1,980 | $3,742-47.1% | $5,517-64.1% | $4,296-53.9% |