Filed April 29, 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 | $24,669 | $45,087-45.3% | $69,483-64.5% | $72,976-66.2% |
| Participation rate | 32.6% | 68.5%-35.9pp | 74.6%-42.0pp | 69.5%-36.9pp |
| Annual return | 1.53% | 22.67%-21.1pp | 28.99%-27.5pp | 81.02%-79.5pp |
| Employer contribution / active EE | $0 | $2,055-100.0% | $2,780-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $744 | $2,603-71.4% | $3,537-79.0% | $3,608-79.4% |
| Admin fee / account holder | $3,906 | $3,057+27.8% | $3,841+1.7% | $5,124-23.8% |