Filed April 6, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $7,769 | $41,016-81.1% | $152,093-94.9% | $64,097-87.9% |
| Participation rate | 16.9% | 51.3%-34.5pp | 77.8%-60.9pp | 55.2%-38.3pp |
| Annual return | 17.38% | 39.60%-22.2pp | 66.36%-49.0pp | 34.64%-17.3pp |
| Employer contribution / active EE | $260 | $1,342-80.7% | $4,175-93.8% | $1,891-86.3% |
| Participant deferral / active EE | $454 | $1,927-76.4% | $5,451-91.7% | $3,080-85.3% |
| Admin fee / account holder | $3,473 | $2,305+50.6% | $14,497-76.0% | $3,454+0.5% |