Filed December 20, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $15,783 | $39,798-60.3% | $67,704-76.7% | $59,633-73.5% |
| Participation rate | 27.6% | 57.4%-29.8pp | 67.5%-39.9pp | 68.7%-41.1pp |
| Annual return | 3.26% | 89.94%-86.7pp | 25.41%-22.1pp | 2041.40%-2038.1pp |
| Employer contribution / active EE | $399 | $1,393-71.4% | $2,559-84.4% | $2,203-81.9% |
| Participant deferral / active EE | $584 | $2,335-75.0% | $3,585-83.7% | $3,192-81.7% |
| Admin fee / account holder | $15,421 | $3,212+380.1% | $4,255+262.4% | $4,297+258.9% |