Filed August 24, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $37,711 | $81,476-53.7% | $102,383-63.2% | $80,925-53.4% |
| Participation rate | 33.3% | 66.8%-33.5pp | 74.5%-41.2pp | 67.7%-34.3pp |
| Annual return | 11.88% | 25.59%-13.7pp | 24.94%-13.1pp | 35.65%-23.8pp |
| Employer contribution / active EE | $783 | $3,105-74.8% | $3,870-79.8% | $2,756-71.6% |
| Participant deferral / active EE | $3,182 | $3,871-17.8% | $5,060-37.1% | $4,299-26.0% |
| Admin fee / account holder | $308 | $6,717-95.4% | $8,391-96.3% | $6,940-95.6% |