Filed August 27, 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 | $28,288 | $56,054-49.5% | $171,082-83.5% | $62,881-55.0% |
| Participation rate | 63.8% | 62.9%+1.0pp | 76.7%-12.9pp | 69.3%-5.5pp |
| Annual return | 10.35% | 22.52%-12.2pp | 32.56%-22.2pp | 20.14%-9.8pp |
| Employer contribution / active EE | $683 | $1,731-60.5% | $4,002-82.9% | $2,281-70.0% |
| Participant deferral / active EE | $1,677 | $3,158-46.9% | $4,797-65.0% | $3,203-47.6% |
| Admin fee / account holder | $1,929 | $3,647-47.1% | $8,520-77.4% | $4,296-55.1% |