Filed March 29, 2021
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,207 | $50,958-58.4% | $74,552-71.6% | $64,181-67.0% |
| Participation rate | 32.4% | 61.1%-28.7pp | 69.1%-36.7pp | 69.6%-37.2pp |
| Annual return | -7.22% | -1.86%-5.4pp | 32.53%-39.8pp | 7.63%-14.9pp |
| Employer contribution / active EE | $759 | $1,115-32.0% | $1,961-61.3% | $2,381-68.1% |
| Participant deferral / active EE | $1,132 | $2,301-50.8% | $3,108-63.6% | $3,470-67.4% |
| Admin fee / account holder | $6,099 | $4,223+44.4% | $5,060+20.6% | $4,887+24.8% |