Filed July 6, 2020
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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 | $25,631 | $41,016-37.5% | $152,093-83.1% | $64,097-60.0% |
| Participation rate | 15.7% | 51.3%-35.6pp | 77.8%-62.0pp | 55.2%-39.5pp |
| Annual return | 12.17% | 39.60%-27.4pp | 66.36%-54.2pp | 34.64%-22.5pp |
| Employer contribution / active EE | $0 | $1,342-100.0% | $4,175-100.0% | $1,891-100.0% |
| Participant deferral / active EE | $1,125 | $1,927-41.6% | $5,451-79.4% | $3,080-63.5% |
| Admin fee / account holder | $6,201 | $2,305+169.0% | $14,497-57.2% | $3,454+79.5% |