Filed June 1, 2021
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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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,088 | $56,484-80.4% | $169,452-93.5% | $64,173-82.7% |
| Participation rate | 53.5% | 64.5%-11.0pp | 77.8%-24.3pp | 69.6%-16.0pp |
| Annual return | -7.83% | -1.55%-6.3pp | 1.83%-9.7pp | 7.63%-15.5pp |
| Employer contribution / active EE | $471 | $1,832-74.3% | $4,157-88.7% | $2,381-80.2% |
| Participant deferral / active EE | $1,490 | $3,448-56.8% | $5,277-71.8% | $3,470-57.1% |
| Admin fee / account holder | $3,135 | $4,174-24.9% | $9,110-65.6% | $4,887-35.9% |