Filed April 29, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $27,198 | $39,132-30.5% | $57,196-52.4% | $62,881-56.7% |
| Participation rate | 44.4% | 70.5%-26.0pp | 75.3%-30.9pp | 69.3%-24.9pp |
| Annual return | 6.27% | 9.24%-3.0pp | 14.59%-8.3pp | 20.14%-13.9pp |
| Employer contribution / active EE | $344 | $1,874-81.6% | $2,683-87.2% | $2,281-84.9% |
| Participant deferral / active EE | $1,572 | $2,374-33.8% | $3,096-49.2% | $3,203-50.9% |
| Admin fee / account holder | $1,073 | $2,594-58.6% | $3,141-65.8% | $4,296-75.0% |