Filed August 4, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,163 | $50,947-62.4% | $74,551-74.3% | $64,173-70.1% |
| Participation rate | 58.6% | 61.1%-2.4pp | 69.1%-10.5pp | 69.6%-10.9pp |
| Annual return | 18.32% | -1.85%+20.2pp | 32.53%-14.2pp | 7.63%+10.7pp |
| Employer contribution / active EE | $0 | $1,115-100.0% | $1,961-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $6,704 | $2,302+191.3% | $3,108+115.7% | $3,470+93.2% |
| Admin fee / account holder | $2,044 | $4,221-51.6% | $5,059-59.6% | $4,887-58.2% |