Filed April 29, 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 | $19,640 | $65,084-69.8% | $67,681-71.0% | $64,340-69.5% |
| Participation rate | 54.0% | 66.7%-12.7pp | 73.7%-19.7pp | 55.2%-1.2pp |
| Annual return | 10.92% | 20.50%-9.6pp | 590.58%-579.7pp | 24.14%-13.2pp |
| Employer contribution / active EE | $442 | $2,398-81.6% | $2,678-83.5% | $1,862-76.3% |
| Participant deferral / active EE | $1,385 | $3,210-56.9% | $3,976-65.2% | $2,980-53.5% |
| Admin fee / account holder | $2,327 | $1,415+64.4% | $6,100-61.9% | $3,703-37.2% |