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 | $106,749-83.3% | $145,433-87.7% | $82,448-78.4% |
| Participation rate | 54.5% | 75.6%-21.1pp | 82.1%-27.6pp | 68.1%-13.5pp |
| Annual return | 10.06% | 27.59%-17.5pp | 66.58%-56.5pp | 41.64%-31.6pp |
| Employer contribution / active EE | $983 | $3,444-71.5% | $4,554-78.4% | $2,551-61.5% |
| Participant deferral / active EE | $1,923 | $6,519-70.5% | $7,897-75.6% | $4,139-53.5% |
| Admin fee / account holder | $5,303 | $8,390-36.8% | $13,129-59.6% | $7,234-26.7% |