Filed July 7, 2022
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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 | $39,349 | $45,312-13.2% | $86,233-54.4% | $67,986-42.1% |
| Participation rate | 25.0% | 42.4%-17.4pp | 69.0%-44.0pp | 57.2%-32.2pp |
| Annual return | 13.83% | 24.79%-11.0pp | 61.39%-47.6pp | 31.67%-17.8pp |
| Employer contribution / active EE | $1,419 | $1,160+22.4% | $2,504-43.3% | $2,019-29.7% |
| Participant deferral / active EE | $0 | $2,185-100.0% | $4,559-100.0% | $3,358-100.0% |
| Admin fee / account holder | $7,329 | $3,295+122.4% | $8,342-12.2% | $3,203+128.8% |