Filed December 23, 2020
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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 | $12,769 | $65,582-80.5% | $64,101-80.1% | $71,511-82.1% |
| Participation rate | 38.8% | 73.2%-34.4pp | 72.3%-33.5pp | 67.9%-29.1pp |
| Annual return | 18.00% | 18.96%-1.0pp | 33.72%-15.7pp | 28.86%-10.9pp |
| Employer contribution / active EE | $785 | $2,671-70.6% | $2,749-71.5% | $2,589-69.7% |
| Participant deferral / active EE | $1,573 | $3,628-56.7% | $3,881-59.5% | $4,291-63.3% |
| Admin fee / account holder | $1,497 | $616+142.9% | $3,070-51.2% | $1,588-5.7% |