Filed February 22, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $122,212 | $71,878+70.0% | $86,698+41.0% | $68,486+78.4% |
| Participation rate | 42.4% | 72.2%-29.8pp | 76.6%-34.2pp | 67.9%-25.5pp |
| Annual return | -20.74% | 3.53%-24.3pp | 35.95%-56.7pp | -7.85%-12.9pp |
| Employer contribution / active EE | $0 | $2,173-100.0% | $2,837-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $2,839 | $3,779-24.9% | $4,656-39.0% | $4,028-29.5% |
| Admin fee / account holder | $30,213 | $6,113+394.3% | $7,493+303.2% | $5,404+459.1% |