Filed May 3, 2022
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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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,376 | $209,336-70.2% | $197,124-68.4% | $137,256-54.6% |
| Participation rate | 54.2% | 87.3%-33.1pp | 86.7%-32.5pp | 80.0%-25.8pp |
| Annual return | 38.68% | 48.09%-9.4pp | 44.34%-5.7pp | 220.34%-181.7pp |
| Employer contribution / active EE | $1,761 | $6,591-73.3% | $6,227-71.7% | $4,156-57.6% |
| Participant deferral / active EE | $2,473 | $9,614-74.3% | $9,135-72.9% | $6,407-61.4% |
| Admin fee / account holder | $2,118 | $17,308-87.8% | $16,298-87.0% | $12,270-82.7% |