Filed October 4, 2021
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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.
Assets per participant exceed $250,000 - top-decile high-value plan.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $404,152 | $364,560+10.9% | $374,107+8.0% | $237,064+70.5% |
| Participation rate | 100.0% | 45.9%+54.1pp | 22.0%+78.0pp | 45.6%+54.4pp |
| Annual return | 12.18% | 3.93%+8.3pp | 4.74%+7.4pp | 4.16%+8.0pp |
| Employer contribution / active EE | $0 | $47,405-100.0% | $36,089-100.0% | $42,918-100.0% |
| Participant deferral / active EE | $0 | $44-100.0% | $59-100.0% | $128-100.0% |
| Admin fee / account holder | $23,848 | $11,576+106.0% | $10,677+123.3% | $21,465+11.1% |