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 | $6,934 | $152,597-95.5% | $117,533-94.1% | $134,532-94.8% |
| Participation rate | 40.0% | 77.1%-37.1pp | 70.6%-30.6pp | 81.2%-41.2pp |
| Annual return | -18.21% | 53.04%-71.3pp | 29.77%-48.0pp | 418.27%-436.5pp |
| Employer contribution / active EE | $0 | $5,576-100.0% | $4,179-100.0% | $4,741-100.0% |
| Participant deferral / active EE | $1,035 | $4,821-78.5% | $4,072-74.6% | $6,401-83.8% |
| Admin fee / account holder | $1,046 | $7,007-85.1% | $5,647-81.5% | $11,429-90.8% |