Filed June 9, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,478 | $60,139-75.9% | $90,461-84.0% | $79,856-81.9% |
| Participation rate | 15.2% | 65.0%-49.8pp | 72.7%-57.5pp | 69.6%-54.5pp |
| Annual return | 9.07% | 71.96%-62.9pp | 1294.76%-1285.7pp | 31.71%-22.6pp |
| Employer contribution / active EE | $0 | $2,069-100.0% | $3,264-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $377 | $2,939-87.2% | $3,964-90.5% | $3,741-89.9% |
| Admin fee / account holder | $1,826 | $3,978-54.1% | $5,617-67.5% | $5,306-65.6% |