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 | $77,896-38.9% | $134,172-64.5% | $82,448-42.2% |
| Participation rate | 25.6% | 62.8%-37.2pp | 72.5%-46.9pp | 68.1%-42.5pp |
| Annual return | 16.64% | 18.21%-1.6pp | 25.30%-8.7pp | 41.64%-25.0pp |
| Employer contribution / active EE | $0 | $2,159-100.0% | $3,420-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $1,001 | $3,162-68.3% | $4,690-78.6% | $4,139-75.8% |
| Admin fee / account holder | $2,806 | $6,336-55.7% | $12,016-76.6% | $7,234-61.2% |