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 | $5,370 | $176,402-97.0% | $134,162-96.0% | $158,982-96.6% |
| Participation rate | 55.6% | 78.7%-23.2pp | 72.2%-16.6pp | 82.0%-26.4pp |
| Annual return | 5.61% | 63.66%-58.0pp | 36.35%-30.7pp | 302.99%-297.4pp |
| Employer contribution / active EE | $0 | $5,042-100.0% | $3,705-100.0% | $4,763-100.0% |
| Participant deferral / active EE | $1,111 | $4,093-72.8% | $3,500-68.2% | $5,983-81.4% |
| Admin fee / account holder | $572 | $8,719-93.4% | $6,685-91.4% | $11,252-94.9% |