Filed November 2, 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.)
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 | $25,380 | $178,584-85.8% | $84,753-70.1% | - |
| Participation rate | 39.4% | 64.5%-25.1pp | 76.6%-37.2pp | - |
| Annual return | 5.46% | 76.22%-70.8pp | 22.78%-17.3pp | - |
| Employer contribution / active EE | $0 | $1,402-100.0% | $3,574-100.0% | - |
| Participant deferral / active EE | $1,501 | $2,836-47.1% | $3,712-59.6% | - |
| Admin fee / account holder | $1,924 | $9,656-80.1% | $5,333-63.9% | - |