Filed August 16, 2019
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,612 | $50,464-51.2% | $75,782-67.5% | $52,331-53.0% |
| Participation rate | 21.0% | 66.8%-45.8pp | 75.8%-54.8pp | 68.1%-47.1pp |
| Annual return | -3.78% | 1.03%-4.8pp | 9.68%-13.5pp | 4.54%-8.3pp |
| Employer contribution / active EE | $499 | $1,988-74.9% | $3,323-85.0% | $1,882-73.5% |
| Participant deferral / active EE | $666 | $2,570-74.1% | $3,652-81.7% | $3,022-77.9% |
| Admin fee / account holder | $317 | $1,103-71.3% | $5,300-94.0% | $592-46.5% |