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 | $22,469 | $56,484-60.2% | $169,452-86.7% | $64,173-65.0% |
| Participation rate | 57.5% | 64.5%-7.0pp | 77.8%-20.3pp | 69.6%-12.1pp |
| Annual return | -6.24% | -1.55%-4.7pp | 1.83%-8.1pp | 7.63%-13.9pp |
| Employer contribution / active EE | $690 | $1,832-62.4% | $4,157-83.4% | $2,381-71.0% |
| Participant deferral / active EE | $1,565 | $3,448-54.6% | $5,277-70.3% | $3,470-54.9% |
| Admin fee / account holder | $4,886 | $4,174+17.1% | $9,110-46.4% | $4,8870% |