Filed August 17, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $31,535 | $54,763-42.4% | $90,324-65.1% | $72,976-56.8% |
| Participation rate | 55.2% | 65.2%-10.0pp | 73.3%-18.1pp | 69.5%-14.3pp |
| Annual return | -2.66% | 30.63%-33.3pp | 78.15%-80.8pp | 81.02%-83.7pp |
| Employer contribution / active EE | $0 | $2,093-100.0% | $2,856-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $1,216 | $2,887-57.9% | $3,885-68.7% | $3,608-66.3% |
| Admin fee / account holder | $730 | $3,973-81.6% | $5,356-86.4% | $5,124-85.8% |