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 | $15,638 | $57,330-72.7% | $86,656-82.0% | $75,177-79.2% |
| Participation rate | 22.2% | 63.2%-41.0pp | 71.7%-49.5pp | 67.2%-45.0pp |
| Annual return | 7.89% | 2675.40%-2667.5pp | 593.09%-585.2pp | 160.75%-152.9pp |
| Employer contribution / active EE | $0 | $2,316-100.0% | $3,025-100.0% | $2,671-100.0% |
| Participant deferral / active EE | $184 | $3,320-94.5% | $4,439-95.9% | $4,126-95.5% |
| Admin fee / account holder | $11,341 | $4,115+175.6% | $5,619+101.8% | $5,651+100.7% |