Filed December 30, 2019
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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 | $34,770 | $100,272-65.3% | $170,028-79.6% | $74,440-53.3% |
| Participation rate | 20.1% | 87.4%-67.3pp | 87.0%-66.9pp | 70.7%-50.7pp |
| Annual return | 39.09% | 66.12%-27.0pp | 53.39%-14.3pp | 34.37%+4.7pp |
| Employer contribution / active EE | $0 | $4,266-100.0% | $6,788-100.0% | $2,638-100.0% |
| Participant deferral / active EE | $1,144 | $7,147-84.0% | $10,409-89.0% | $4,529-74.7% |
| Admin fee / account holder | $8,877 | $235+3684.8% | $12,820-30.8% | $348+2451.9% |