Filed August 20, 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 | $38,472 | $153,769-75.0% | $133,975-71.3% | $273,972-86.0% |
| Participation rate | 60.0% | 88.4%-28.4pp | 87.1%-27.1pp | 83.0%-23.0pp |
| Annual return | 6.23% | 36.51%-30.3pp | 29.29%-23.1pp | 41.46%-35.2pp |
| Employer contribution / active EE | $2,838 | $6,029-52.9% | $5,211-45.5% | $4,869-41.7% |
| Participant deferral / active EE | $886 | $6,958-87.3% | $6,282-85.9% | $5,287-83.2% |
| Admin fee / account holder | $5,176 | $11,765-56.0% | $9,324-44.5% | $10,133-48.9% |