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 | $21,291 | $45,050-52.7% | $63,018-66.2% | $70,126-69.6% |
| Participation rate | 47.4% | 69.5%-22.1pp | 74.8%-27.4pp | 69.5%-22.1pp |
| Annual return | 11.30% | 18.76%-7.5pp | 87.62%-76.3pp | 73.15%-61.8pp |
| Employer contribution / active EE | $348 | $2,052-83.0% | $2,761-87.4% | $2,343-85.1% |
| Participant deferral / active EE | $1,584 | $2,466-35.7% | $3,330-52.4% | $3,332-52.4% |
| Admin fee / account holder | $3,410 | $2,834+20.3% | $3,601-5.3% | $4,645-26.6% |