Filed December 7, 2020 (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.
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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,169 | $56,894+39.2% | $84,753-6.6% | $62,881+25.9% |
| Participation rate | 61.0% | 68.5%-7.5pp | 76.6%-15.6pp | 69.3%-8.3pp |
| Annual return | 7.18% | 6.30%+0.9pp | 22.78%-15.6pp | 20.14%-13.0pp |
| Employer contribution / active EE | $0 | $2,400-100.0% | $3,574-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,285 | $2,709-52.6% | $3,712-65.4% | $3,203-59.9% |
| Admin fee / account holder | $3,102 | $3,581-13.4% | $5,333-41.8% | $4,296-27.8% |