Filed May 5, 2021
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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 | $10,365 | $43,496-76.2% | $161,489-93.6% | $64,340-83.9% |
| Participation rate | 20.4% | 53.5%-33.1pp | 78.7%-58.3pp | 55.2%-34.9pp |
| Annual return | 9.34% | 20.76%-11.4pp | 89.72%-80.4pp | 24.14%-14.8pp |
| Employer contribution / active EE | $3 | $1,431-99.8% | $4,268-99.9% | $1,862-99.8% |
| Participant deferral / active EE | $670 | $1,996-66.5% | $5,630-88.1% | $2,980-77.5% |
| Admin fee / account holder | $475 | $2,330-79.6% | $16,006-97.0% | $3,703-87.2% |