Filed March 11, 2022
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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 | $37,166 | $45,312-18.0% | $86,233-56.9% | $67,986-45.3% |
| Participation rate | 22.6% | 42.4%-19.8pp | 69.0%-46.4pp | 57.2%-34.6pp |
| Annual return | 18.65% | 24.79%-6.1pp | 61.39%-42.7pp | 31.67%-13.0pp |
| Employer contribution / active EE | $54 | $1,160-95.3% | $2,504-97.8% | $2,019-97.3% |
| Participant deferral / active EE | $2,619 | $2,185+19.9% | $4,559-42.6% | $3,358-22.0% |
| Admin fee / account holder | $8,402 | $3,295+155.0% | $8,342+0.7% | $3,203+162.3% |