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 | $42,772 | $129,095-66.9% | $184,185-76.8% | $77,692-44.9% |
| Participation rate | 21.1% | 87.3%-66.2pp | 86.8%-65.7pp | 70.6%-49.5pp |
| Annual return | 33.63% | 33.29%+0.3pp | 28.81%+4.8pp | 31.25%+2.4pp |
| Employer contribution / active EE | $0 | $4,410-100.0% | $6,426-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $1,375 | $7,300-81.2% | $9,132-84.9% | $4,648-70.4% |
| Admin fee / account holder | $8,304 | $256+3147.2% | $13,909-40.3% | $431+1828.7% |