Filed May 5, 2021
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,365 | $45,343-77.1% | $150,298-93.1% | $67,986-84.8% |
| Participation rate | 20.4% | 51.9%-31.5pp | 77.8%-57.4pp | 57.2%-36.8pp |
| Annual return | 9.34% | 33.28%-23.9pp | 62.79%-53.4pp | 31.67%-22.3pp |
| Employer contribution / active EE | $3 | $1,462-99.8% | $4,154-99.9% | $2,019-99.8% |
| Participant deferral / active EE | $670 | $2,055-67.4% | $5,453-87.7% | $3,358-80.1% |
| Admin fee / account holder | $475 | $2,250-78.9% | $14,116-96.6% | $3,203-85.2% |