Filed December 8, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $62,572 | $56,544+10.7% | $75,501-17.1% | $70,124-10.8% |
| Participation rate | 34.5% | 68.1%-33.6pp | 72.4%-37.8pp | 69.5%-35.0pp |
| Annual return | 19.72% | 23.59%-3.9pp | 27.35%-7.6pp | 73.14%-53.4pp |
| Employer contribution / active EE | $0 | $1,817-100.0% | $2,352-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $3,881 | $2,580+50.4% | $3,142+23.5% | $3,332+16.5% |
| Admin fee / account holder | $736 | $3,827-80.8% | $5,801-87.3% | $4,645-84.2% |