Filed August 5, 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.)
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 | $10,194 | $117,846-91.3% | $102,434-90.0% | $145,884-93.0% |
| Participation rate | 68.4% | 78.6%-10.2pp | 76.5%-8.1pp | 80.3%-11.9pp |
| Annual return | 24.30% | 31.90%-7.6pp | 29.46%-5.2pp | 551.85%-527.5pp |
| Employer contribution / active EE | $0 | $3,615-100.0% | $3,023-100.0% | $4,662-100.0% |
| Participant deferral / active EE | $6,644 | $5,733+15.9% | $5,055+31.4% | $6,690-0.7% |
| Admin fee / account holder | $6,357 | $13,356-52.4% | $9,462-32.8% | $13,392-52.5% |