Filed August 4, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,432 | $54,541-62.5% | $78,778-74.1% | $70,126-70.9% |
| Participation rate | 47.5% | 60.8%-13.3pp | 69.2%-21.7pp | 69.5%-22.0pp |
| Annual return | 0.00% | 21.07%-21.1pp | 35.62%-35.6pp | 73.15%-73.1pp |
| Employer contribution / active EE | $0 | $1,089-100.0% | $1,986-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $3,202 | $2,210+44.9% | $2,958+8.2% | $3,332-3.9% |
| Admin fee / account holder | $1,756 | $3,709-52.7% | $5,134-65.8% | $4,645-62.2% |