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 | $80,855-41.1% | $153,416-69.0% | $86,983-45.2% |
| Participation rate | 25.6% | 64.1%-38.5pp | 74.3%-48.8pp | 69.5%-44.0pp |
| Annual return | 16.64% | 16.18%+0.5pp | 17.84%-1.2pp | 25.83%-9.2pp |
| Employer contribution / active EE | $0 | $2,308-100.0% | $3,764-100.0% | $2,584-100.0% |
| Participant deferral / active EE | $1,001 | $3,333-69.9% | $4,723-78.8% | $4,194-76.1% |
| Admin fee / account holder | $2,806 | $6,908-59.4% | $13,095-78.6% | $7,856-64.3% |