Filed November 13, 2020
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $42,448 | $89,652-52.7% | $141,191-69.9% | $65,185-34.9% |
| Participation rate | 25.0% | 74.7%-49.7pp | 82.5%-57.5pp | 70.2%-45.2pp |
| Annual return | 50.30% | 32.79%+17.5pp | 71.41%-21.1pp | 29.38%+20.9pp |
| Employer contribution / active EE | $0 | $3,065-100.0% | $4,736-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $3,102 | $5,691-45.5% | $6,710-53.8% | $3,514-11.7% |
| Admin fee / account holder | $1,573 | $569+176.7% | $10,264-84.7% | $847+85.7% |