Filed April 19, 2022
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,197 | $50,860-42.6% | $155,574-81.2% | $77,714-62.4% |
| Participation rate | 6.1% | 63.1%-57.0pp | 78.2%-72.1pp | 70.6%-64.4pp |
| Annual return | 11.10% | 34.86%-23.8pp | 64.87%-53.8pp | 31.26%-20.2pp |
| Employer contribution / active EE | $0 | $1,991-100.0% | $4,676-100.0% | $2,727-100.0% |
| Participant deferral / active EE | $266 | $2,825-90.6% | $5,629-95.3% | $4,649-94.3% |
| Admin fee / account holder | $433 | $436-0.8% | $15,914-97.3% | $433-0.1% |