Filed June 8, 2022
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $74,532 | $81,557-8.6% | $123,973-39.9% | $65,191+14.3% |
| Participation rate | 18.6% | 77.8%-59.2pp | 76.7%-58.1pp | 63.0%-44.4pp |
| Annual return | 13.52% | 11.45%+2.1pp | 388.13%-374.6pp | 51.24%-37.7pp |
| Employer contribution / active EE | $0 | $4,637-100.0% | $4,126-100.0% | $2,400-100.0% |
| Participant deferral / active EE | $1,031 | $2,628-60.8% | $5,247-80.3% | $2,671-61.4% |
| Admin fee / account holder | $7,371 | $1,040+609.0% | $11,799-37.5% | $907+712.8% |