Filed June 16, 2020
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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 | $11,255 | $234,190-95.2% | $180,320-93.8% | $198,609-94.3% |
| Participation rate | 22.7% | 77.1%-54.4pp | 71.5%-48.8pp | 82.4%-59.7pp |
| Annual return | 12.70% | 1057.44%-1044.7pp | 778.54%-765.8pp | 202.70%-190.0pp |
| Employer contribution / active EE | $0 | $5,258-100.0% | $4,108-100.0% | $5,055-100.0% |
| Participant deferral / active EE | $1,047 | $4,988-79.0% | $4,304-75.7% | $6,977-85.0% |
| Admin fee / account holder | $1,564 | $12,558-87.5% | $10,000-84.4% | $19,030-91.8% |