Filed October 30, 2020 (most recent of 3 filings on file)
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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 | $41,257 | $50,947-19.0% | $74,551-44.7% | $64,173-35.7% |
| Participation rate | 25.0% | 61.1%-36.1pp | 69.1%-44.1pp | 69.6%-44.6pp |
| Annual return | -5.41% | -1.85%-3.6pp | 32.53%-37.9pp | 7.63%-13.0pp |
| Employer contribution / active EE | $0 | $1,115-100.0% | $1,961-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $850 | $2,302-63.0% | $3,108-72.6% | $3,470-75.5% |
| Admin fee / account holder | $4,976 | $4,221+17.9% | $5,059-1.6% | $4,887+1.8% |