Filed October 8, 2019
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $65,326 | $56,894+14.8% | $84,753-22.9% | $62,881+3.9% |
| Participation rate | 34.0% | 68.5%-34.5pp | 76.6%-42.6pp | 69.3%-35.3pp |
| Annual return | 6.94% | 6.30%+0.6pp | 22.78%-15.8pp | 20.14%-13.2pp |
| Employer contribution / active EE | $0 | $2,400-100.0% | $3,574-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $3,310 | $2,709+22.2% | $3,712-10.8% | $3,203+3.3% |
| Admin fee / account holder | $15,939 | $3,581+345.1% | $5,333+198.9% | $4,296+271.0% |