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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,849 | $63,773-39.1% | $81,286-52.2% | $80,925-52.0% |
| Participation rate | 57.3% | 63.9%-6.6pp | 69.5%-12.2pp | 67.7%-10.3pp |
| Annual return | 14.01% | 16.37%-2.4pp | 24.80%-10.8pp | 35.65%-21.6pp |
| Employer contribution / active EE | $601 | $1,979-69.6% | $2,463-75.6% | $2,756-78.2% |
| Participant deferral / active EE | $2,211 | $3,093-28.5% | $3,883-43.0% | $4,299-48.6% |
| Admin fee / account holder | $2,682 | $5,682-52.8% | $5,764-53.5% | $6,940-61.4% |