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 | $29,995 | $56,339-46.8% | $104,299-71.2% | $68,490-56.2% |
| Participation rate | 30.4% | 63.3%-32.9pp | 73.3%-42.9pp | 67.9%-37.5pp |
| Annual return | -16.43% | -9.19%-7.2pp | 24.62%-41.1pp | -7.85%-8.6pp |
| Employer contribution / active EE | $0 | $1,960-100.0% | $3,373-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $843 | $3,077-72.6% | $4,626-81.8% | $4,028-79.1% |
| Admin fee / account holder | $770 | $4,902-84.3% | $7,339-89.5% | $5,403-85.8% |