Filed December 15, 2021
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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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $4,471 | $76,401-94.1% | $106,387-95.8% | $64,173-93.0% |
| Participation rate | 36.1% | 73.5%-37.4pp | 77.5%-41.3pp | 69.6%-33.5pp |
| Annual return | -15.83% | -2.19%-13.6pp | 0.25%-16.1pp | 7.63%-23.5pp |
| Employer contribution / active EE | $0 | $2,680-100.0% | $3,520-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $966 | $4,274-77.4% | $5,421-82.2% | $3,470-72.2% |
| Admin fee / account holder | $440 | $4,610-90.5% | $7,510-94.1% | $4,887-91.0% |