Filed April 6, 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.)
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 | $11,672 | $47,848-75.6% | $81,473-85.7% | $70,126-83.4% |
| Participation rate | 48.8% | 58.3%-9.5pp | 68.0%-19.2pp | 69.5%-20.8pp |
| Annual return | 22.70% | 27.25%-4.5pp | 38.78%-16.1pp | 73.15%-50.4pp |
| Employer contribution / active EE | $0 | $1,527-100.0% | $2,568-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $2,114 | $2,453-13.8% | $3,537-40.2% | $3,332-36.6% |
| Admin fee / account holder | $533 | $3,145-83.0% | $4,561-88.3% | $4,645-88.5% |