Filed March 8, 2022
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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 | $43,814 | $138,386-68.3% | $184,260-76.2% | $80,935-45.9% |
| Participation rate | 44.0% | 83.9%-39.9pp | 86.8%-42.9pp | 67.7%-23.7pp |
| Annual return | 13.92% | 20.02%-6.1pp | 28.84%-14.9pp | 35.66%-21.7pp |
| Employer contribution / active EE | $1,549 | $4,851-68.1% | $6,427-75.9% | $2,757-43.8% |
| Participant deferral / active EE | $1,246 | $7,076-82.4% | $9,133-86.4% | $4,299-71.0% |
| Admin fee / account holder | $3,379 | $10,489-67.8% | $13,898-75.7% | $6,924-51.2% |