Filed August 25, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $34,967 | $63,809-45.2% | $81,353-57.0% | $80,935-56.8% |
| Participation rate | 40.0% | 63.9%-23.9pp | 69.5%-29.5pp | 67.7%-27.7pp |
| Annual return | 9.55% | 16.37%-6.8pp | 24.82%-15.3pp | 35.66%-26.1pp |
| Employer contribution / active EE | $2,111 | $1,981+6.6% | $2,464-14.3% | $2,757-23.4% |
| Participant deferral / active EE | $3,032 | $3,093-2.0% | $3,885-21.9% | $4,299-29.5% |
| Admin fee / account holder | $454 | $5,686-92.0% | $5,766-92.1% | $6,924-93.4% |