Filed March 28, 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,640 | $72,273-72.8% | $101,275-80.6% | $79,856-75.4% |
| Participation rate | 55.9% | 68.5%-12.6pp | 75.8%-19.9pp | 69.6%-13.8pp |
| Annual return | 27.45% | 22.30%+5.2pp | 46.48%-19.0pp | 31.71%-4.3pp |
| Employer contribution / active EE | $1,693 | $2,691-37.1% | $3,660-53.7% | $2,471-31.5% |
| Participant deferral / active EE | $2,496 | $3,282-23.9% | $4,371-42.9% | $3,741-33.3% |
| Admin fee / account holder | $5,114 | $4,401+16.2% | $5,948-14.0% | $5,306-3.6% |