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 | $92,224-19.2% | $105,223-29.2% | $79,634-6.4% |
| Participation rate | 18.6% | 69.2%-50.6pp | 75.0%-56.5pp | 62.5%-43.9pp |
| Annual return | 13.52% | 88.65%-75.1pp | 180.65%-167.1pp | 36.46%-22.9pp |
| Employer contribution / active EE | $0 | $3,965-100.0% | $3,689-100.0% | $2,529-100.0% |
| Participant deferral / active EE | $1,031 | $3,834-73.1% | $5,072-79.7% | $3,835-73.1% |
| Admin fee / account holder | $7,371 | $1,121+557.8% | $8,859-16.8% | $1,002+635.7% |