Filed July 6, 2021 (most recent of 2 filings on file)
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,629 | $81,403-41.5% | $147,027-67.6% | $87,485-45.6% |
| Participation rate | 25.6% | 63.4%-37.9pp | 73.7%-48.2pp | 68.9%-43.4pp |
| Annual return | 16.64% | 16.51%+0.1pp | 20.23%-3.6pp | 26.06%-9.4pp |
| Employer contribution / active EE | $0 | $2,205-100.0% | $3,626-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $1,001 | $3,315-69.8% | $4,933-79.7% | $4,274-76.6% |
| Admin fee / account holder | $2,806 | $6,755-58.5% | $12,223-77.0% | $7,775-63.9% |