Filed May 14, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $15,021 | $84,236-82.2% | $170,435-91.2% | $70,126-78.6% |
| Participation rate | 26.5% | 70.8%-44.4pp | 83.6%-57.1pp | 69.5%-43.1pp |
| Annual return | 11.48% | 23.06%-11.6pp | 205.94%-194.5pp | 73.15%-61.7pp |
| Employer contribution / active EE | $419 | $3,387-87.6% | $5,432-92.3% | $2,343-82.1% |
| Participant deferral / active EE | $474 | $3,086-84.7% | $4,939-90.4% | $3,332-85.8% |
| Admin fee / account holder | $1,824 | $5,698-68.0% | $13,881-86.9% | $4,645-60.7% |