Filed August 2, 2016
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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 | $94,904 | $87,834+8.0% | $133,975-29.2% | $62,881+50.9% |
| Participation rate | 61.4% | 83.4%-22.0pp | 87.1%-25.7pp | 69.3%-7.9pp |
| Annual return | 7.09% | 12.05%-5.0pp | 29.29%-22.2pp | 20.14%-13.1pp |
| Employer contribution / active EE | $2,425 | $3,482-30.4% | $5,211-53.5% | $2,281+6.3% |
| Participant deferral / active EE | $1,202 | $4,812-75.0% | $6,282-80.9% | $3,203-62.5% |
| Admin fee / account holder | $3,805 | $5,372-29.2% | $9,324-59.2% | $4,296-11.4% |