Filed April 27, 2022 (most recent of 2 filings on file)
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $76,419 | $62,589+22.1% | $76,768-0.5% | $64,173+19.1% |
| Participation rate | 46.2% | 72.8%-26.7pp | 77.0%-30.8pp | 69.6%-23.4pp |
| Annual return | -3.65% | -1.95%-1.7pp | 2.43%-6.1pp | 7.63%-11.3pp |
| Employer contribution / active EE | $0 | $1,832-100.0% | $2,485-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $2,243 | $3,145-28.7% | $3,852-41.8% | $3,470-35.4% |
| Admin fee / account holder | $1,396 | $4,667-70.1% | $6,675-79.1% | $4,887-71.4% |