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 | $59,346 | $80,177-26.0% | $123,894-52.1% | $57,658+2.9% |
| Participation rate | 6.2% | 74.4%-68.3pp | 81.4%-75.3pp | 70.2%-64.1pp |
| Annual return | 10.54% | 17.90%-7.4pp | 47.52%-37.0pp | 5.13%+5.4pp |
| Employer contribution / active EE | $0 | $2,913-100.0% | $4,617-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $533 | $5,130-89.6% | $5,984-91.1% | $3,061-82.6% |
| Admin fee / account holder | $1,191 | $106+1020.3% | $8,357-85.7% | $95+1159.9% |