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.)
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 | $12,292 | $82,674-85.1% | $125,381-90.2% | $68,486-82.1% |
| Participation rate | 60.3% | 75.1%-14.7pp | 82.4%-22.1pp | 67.9%-7.6pp |
| Annual return | -9.16% | -5.97%-3.2pp | 572.31%-581.5pp | -7.85%-1.3pp |
| Employer contribution / active EE | $5,929 | $3,382+75.3% | $4,815+23.1% | $2,597+128.3% |
| Participant deferral / active EE | $1,038 | $6,111-83.0% | $7,448-86.1% | $4,028-74.2% |
| Admin fee / account holder | $5,285 | $6,277-15.8% | $10,007-47.2% | $5,404-2.2% |