Filed June 9, 2021
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $11,878 | $48,078-75.3% | $78,676-84.9% | $62,881-81.1% |
| Participation rate | 62.9% | 65.2%-2.3pp | 73.6%-10.7pp | 69.3%-6.4pp |
| Annual return | 3.12% | 31.36%-28.2pp | 62.19%-59.1pp | 20.14%-17.0pp |
| Employer contribution / active EE | $660 | $2,015-67.2% | $2,850-76.8% | $2,281-71.1% |
| Participant deferral / active EE | $958 | $2,587-63.0% | $3,517-72.8% | $3,203-70.1% |
| Admin fee / account holder | $3,766 | $3,206+17.5% | $4,510-16.5% | $4,296-12.3% |