Filed October 4, 2019
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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 | $59,009 | $80,781-27.0% | $102,437-42.4% | $74,478-20.8% |
| Participation rate | 41.9% | 65.7%-23.8pp | 74.5%-32.6pp | 67.2%-25.3pp |
| Annual return | 11.30% | 27.58%-16.3pp | 24.95%-13.7pp | 1370.56%-1359.3pp |
| Employer contribution / active EE | $0 | $3,160-100.0% | $3,871-100.0% | $2,626-100.0% |
| Participant deferral / active EE | $1,576 | $3,862-59.2% | $5,060-68.9% | $4,350-63.8% |
| Admin fee / account holder | $3,355 | $2,372+41.4% | $8,388-60.0% | $1,946+72.4% |