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 | $17,137 | $43,075-60.2% | $74,577-77.0% | $62,881-72.7% |
| Participation rate | 16.3% | 58.1%-41.8pp | 68.1%-51.8pp | 69.3%-53.0pp |
| Annual return | 5.08% | 17.50%-12.4pp | 20.47%-15.4pp | 20.14%-15.1pp |
| Employer contribution / active EE | $317 | $1,498-78.8% | $2,525-87.4% | $2,281-86.1% |
| Participant deferral / active EE | $460 | $2,389-80.7% | $3,458-86.7% | $3,203-85.6% |
| Admin fee / account holder | $5,700 | $2,840+100.7% | $4,138+37.8% | $4,296+32.7% |