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 | $107,421-83.4% | $182,262-90.2% | $94,015-81.0% |
| Participation rate | 54.5% | 77.8%-23.2pp | 84.2%-29.7pp | 70.8%-16.3pp |
| Annual return | 10.06% | 21.32%-11.3pp | 140.60%-130.5pp | 17.84%-7.8pp |
| Employer contribution / active EE | $983 | $3,448-71.5% | $5,046-80.5% | $2,790-64.8% |
| Participant deferral / active EE | $1,923 | $6,558-70.7% | $8,276-76.8% | $4,249-54.7% |
| Admin fee / account holder | $5,303 | $8,692-39.0% | $16,712-68.3% | $8,951-40.8% |