Filed November 17, 2021
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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.)
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 | $3,932 | $73,546-94.7% | $63,018-93.8% | $147,586-97.3% |
| Participation rate | 33.3% | 77.9%-44.5pp | 74.8%-41.5pp | 82.8%-49.5pp |
| Annual return | 19.04% | 175.56%-156.5pp | 87.62%-68.6pp | 578.59%-559.6pp |
| Employer contribution / active EE | $501 | $3,324-84.9% | $2,761-81.9% | $4,876-89.7% |
| Participant deferral / active EE | $501 | $4,185-88.0% | $3,330-85.0% | $5,439-90.8% |
| Admin fee / account holder | $1,341 | $5,956-77.5% | $3,601-62.8% | $10,886-87.7% |