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 | $35,545 | $61,605-42.3% | $112,236-68.3% | $75,173-52.7% |
| Participation rate | 28.8% | 61.7%-32.8pp | 72.4%-43.6pp | 67.2%-38.4pp |
| Annual return | 17.06% | 28.47%-11.4pp | 30.20%-13.1pp | 160.65%-143.6pp |
| Employer contribution / active EE | $0 | $2,015-100.0% | $3,431-100.0% | $2,670-100.0% |
| Participant deferral / active EE | $996 | $3,108-68.0% | $4,799-79.2% | $4,126-75.9% |
| Admin fee / account holder | $2,791 | $4,862-42.6% | $7,749-64.0% | $5,651-50.6% |