Filed June 22, 2020
Total covered: 4 employees
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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 | $38,140 | $54,380-29.9% | $68,509-44.3% | $59,633-36.0% |
| Participation rate | 41.2% | 70.2%-29.0pp | 74.7%-33.6pp | 68.7%-27.5pp |
| Annual return | 3.23% | 2.83%+0.4pp | 8.27%-5.0pp | 2041.45%-2038.2pp |
| Employer contribution / active EE | $560 | $1,539-63.6% | $2,278-75.4% | $2,203-74.6% |
| Participant deferral / active EE | $674 | $2,643-74.5% | $3,382-80.1% | $3,192-78.9% |
| Admin fee / account holder | $1,594 | $3,885-59.0% | $5,275-69.8% | $4,297-62.9% |