Filed March 29, 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 | $23,376 | $78,562-70.2% | $105,608-77.9% | $74,429-68.6% |
| Participation rate | 44.4% | 72.8%-28.4pp | 75.3%-30.9pp | 67.2%-22.9pp |
| Annual return | 10.73% | 15.94%-5.2pp | 116.50%-105.8pp | 1368.38%-1357.7pp |
| Employer contribution / active EE | $967 | $2,521-61.7% | $3,167-69.5% | $2,625-63.2% |
| Participant deferral / active EE | $1,672 | $4,321-61.3% | $5,010-66.6% | $4,348-61.5% |
| Admin fee / account holder | $8,773 | $2,217+295.7% | $11,028-20.5% | $1,944+351.2% |