Filed July 2, 2020
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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.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,584 | $63,082-53.1% | $81,726-63.8% | $79,856-63.0% |
| Participation rate | 50.6% | 67.5%-16.9pp | 72.0%-21.4pp | 69.6%-19.0pp |
| Annual return | 9.59% | 22.66%-13.1pp | 29.49%-19.9pp | 31.71%-22.1pp |
| Employer contribution / active EE | $570 | $1,795-68.2% | $4,311-86.8% | $2,471-76.9% |
| Participant deferral / active EE | $1,957 | $2,780-29.6% | $7,108-72.5% | $3,741-47.7% |
| Admin fee / account holder | $2,652 | $4,428-40.1% | $5,160-48.6% | $5,306-50.0% |