Filed September 17, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $42,372 | $78,707-46.2% | $117,861-64.0% | $70,126-39.6% |
| Participation rate | 58.5% | 73.2%-14.7pp | 79.7%-21.2pp | 69.5%-11.0pp |
| Annual return | 10.06% | 23.30%-13.2pp | 335.11%-325.0pp | 73.15%-63.1pp |
| Employer contribution / active EE | $472 | $2,223-78.8% | $3,786-87.5% | $2,343-79.8% |
| Participant deferral / active EE | $2,738 | $3,297-17.0% | $4,482-38.9% | $3,332-17.8% |
| Admin fee / account holder | $850 | $5,066-83.2% | $8,021-89.4% | $4,645-81.7% |