Filed August 18, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $149,918 | $201,372-25.6% | $184,260-18.6% | $145,884+2.8% |
| Participation rate | 62.5% | 87.5%-25.0pp | 86.8%-24.3pp | 80.3%-17.8pp |
| Annual return | 9.23% | 29.04%-19.8pp | 28.84%-19.6pp | 551.85%-542.6pp |
| Employer contribution / active EE | $8,167 | $7,024+16.3% | $6,427+27.1% | $4,662+75.2% |
| Participant deferral / active EE | $0 | $9,808-100.0% | $9,133-100.0% | $6,690-100.0% |
| Admin fee / account holder | $22,532 | $16,362+37.7% | $13,898+62.1% | $13,392+68.3% |