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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,285 | $107,079-68.9% | $151,266-78.0% | $87,485-62.0% |
| Participation rate | 45.7% | 71.1%-25.4pp | 77.0%-31.3pp | 68.9%-23.2pp |
| Annual return | 16.65% | 22.17%-5.5pp | 180.60%-163.9pp | 26.06%-9.4pp |
| Employer contribution / active EE | $0 | $3,174-100.0% | $4,237-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $1,411 | $5,789-75.6% | $7,337-80.8% | $4,274-67.0% |
| Admin fee / account holder | $1,412 | $8,059-82.5% | $13,159-89.3% | $7,775-81.8% |