Filed May 23, 2022 (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.)
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,846 | $106,524-83.2% | $152,301-88.3% | $87,485-79.6% |
| Participation rate | 54.5% | 75.8%-21.2pp | 82.4%-27.9pp | 68.9%-14.4pp |
| Annual return | 10.06% | 26.89%-16.8pp | 80.50%-70.4pp | 26.06%-16.0pp |
| Employer contribution / active EE | $983 | $3,371-70.8% | $4,624-78.7% | $2,596-62.1% |
| Participant deferral / active EE | $1,923 | $6,525-70.5% | $8,004-76.0% | $4,274-55.0% |
| Admin fee / account holder | $5,303 | $8,287-36.0% | $14,398-63.2% | $7,775-31.8% |