Filed May 9, 2022
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $48,263 | $87,106-44.6% | $105,607-54.3% | $80,935-40.4% |
| Participation rate | 32.0% | 70.4%-38.4pp | 75.3%-43.3pp | 67.7%-35.7pp |
| Annual return | 12.73% | 17.01%-4.3pp | 116.11%-103.4pp | 35.66%-22.9pp |
| Employer contribution / active EE | $1,172 | $2,396-51.1% | $3,167-63.0% | $2,757-57.5% |
| Participant deferral / active EE | $1,402 | $3,986-64.8% | $5,011-72.0% | $4,299-67.4% |
| Admin fee / account holder | $327 | $8,447-96.1% | $10,958-97.0% | $6,924-95.3% |