Filed June 1, 2020
Total covered: 3 employees
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,991 | $58,726-48.9% | $92,240-67.5% | $62,293-51.9% |
| Participation rate | 42.0% | 68.3%-26.3pp | 76.5%-34.5pp | 69.5%-27.5pp |
| Annual return | 16.01% | 43.62%-27.6pp | 176.29%-160.3pp | 28.90%-12.9pp |
| Employer contribution / active EE | $702 | $2,392-70.7% | $3,680-80.9% | $2,042-65.6% |
| Participant deferral / active EE | $1,181 | $2,766-57.3% | $3,897-69.7% | $3,169-62.7% |
| Admin fee / account holder | $802 | $556+44.1% | $5,194-84.6% | $479+67.2% |