Filed March 11, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $27,411 | $47,848-42.7% | $81,473-66.4% | $70,126-60.9% |
| Participation rate | 12.1% | 58.3%-46.2pp | 68.0%-55.9pp | 69.5%-57.5pp |
| Annual return | 5.44% | 27.25%-21.8pp | 38.78%-33.3pp | 73.15%-67.7pp |
| Employer contribution / active EE | $0 | $1,527-100.0% | $2,568-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,825 | $2,453-25.6% | $3,537-48.4% | $3,332-45.2% |
| Admin fee / account holder | $9,427 | $3,145+199.8% | $4,561+106.7% | $4,645+102.9% |