Filed August 10, 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 | $44,380 | $227,989-80.5% | $115,038-61.4% | - |
| Participation rate | 28.3% | 70.4%-42.1pp | 81.4%-53.1pp | - |
| Annual return | 4.26% | -2.26%+6.5pp | 26.14%-21.9pp | - |
| Employer contribution / active EE | $0 | $2,554-100.0% | $4,608-100.0% | - |
| Participant deferral / active EE | $2,246 | $4,560-50.8% | $6,026-62.7% | - |
| Admin fee / account holder | $1,447 | $24,406-94.1% | $8,175-82.3% | - |