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 | $117,904-91.4% | $102,457-90.1% | $145,978-93.0% |
| Participation rate | 68.4% | 78.6%-10.2pp | 76.5%-8.1pp | 80.3%-11.9pp |
| Annual return | 24.30% | 31.80%-7.5pp | 29.41%-5.1pp | 550.52%-526.2pp |
| Employer contribution / active EE | $0 | $3,613-100.0% | $3,022-100.0% | $4,662-100.0% |
| Participant deferral / active EE | $6,644 | $5,733+15.9% | $5,054+31.4% | $6,690-0.7% |
| Admin fee / account holder | $6,357 | $13,329-52.3% | $9,451-32.7% | $13,400-52.6% |