Filed July 31, 2020
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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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $61,407 | $71,878-14.6% | $86,698-29.2% | $68,486-10.3% |
| Participation rate | 64.7% | 72.2%-7.5pp | 76.6%-11.9pp | 67.9%-3.2pp |
| Annual return | -19.51% | 3.53%-23.0pp | 35.95%-55.5pp | -7.85%-11.7pp |
| Employer contribution / active EE | $2,450 | $2,173+12.7% | $2,837-13.6% | $2,597-5.6% |
| Participant deferral / active EE | $6,543 | $3,779+73.1% | $4,656+40.5% | $4,028+62.5% |
| Admin fee / account holder | $2,735 | $6,113-55.3% | $7,493-63.5% | $5,404-49.4% |