Filed May 18, 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 | $14,386 | $50,898-71.7% | $171,082-91.6% | $55,167-73.9% |
| Participation rate | 60.0% | 63.3%-3.3pp | 76.7%-16.7pp | 69.0%-9.0pp |
| Annual return | 7.79% | 15.34%-7.6pp | 32.56%-24.8pp | 169.23%-161.4pp |
| Employer contribution / active EE | $1,169 | $1,433-18.5% | $4,002-70.8% | $1,963-40.5% |
| Participant deferral / active EE | $1,081 | $2,994-63.9% | $4,797-77.5% | $3,054-64.6% |
| Admin fee / account holder | $2,678 | $500+436.1% | $8,520-68.6% | $504+431.5% |