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 | $20,633 | $51,708-60.1% | $106,619-80.6% | $62,881-67.2% |
| Participation rate | 39.6% | 66.9%-27.3pp | 78.0%-38.4pp | 69.3%-29.7pp |
| Annual return | 7.86% | 4.69%+3.2pp | 9.42%-1.6pp | 20.14%-12.3pp |
| Employer contribution / active EE | $0 | $1,764-100.0% | $3,947-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $643 | $2,315-72.2% | $3,930-83.6% | $3,203-79.9% |
| Admin fee / account holder | $352 | $3,349-89.5% | $6,418-94.5% | $4,296-91.8% |