Filed May 10, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $5,261 | $157,276-96.7% | $141,177-96.3% | $152,885-96.6% |
| Participation rate | 30.0% | 84.8%-54.8pp | 82.5%-52.5pp | 82.5%-52.5pp |
| Annual return | -23.89% | 64.33%-88.2pp | 71.40%-95.3pp | 345.39%-369.3pp |
| Employer contribution / active EE | $0 | $5,262-100.0% | $4,736-100.0% | $4,763-100.0% |
| Participant deferral / active EE | $0 | $7,110-100.0% | $6,710-100.0% | $5,851-100.0% |
| Admin fee / account holder | $2,374 | $12,123-80.4% | $10,263-76.9% | $11,598-79.5% |