Filed September 7, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,106 | $52,678-54.2% | $75,784-68.2% | $59,633-59.6% |
| Participation rate | 33.9% | 67.2%-33.3pp | 75.8%-41.9pp | 68.7%-34.8pp |
| Annual return | -1.36% | 2.95%-4.3pp | 9.68%-11.0pp | 2041.45%-2042.8pp |
| Employer contribution / active EE | $605 | $2,193-72.4% | $3,323-81.8% | $2,203-72.5% |
| Participant deferral / active EE | $905 | $2,591-65.1% | $3,652-75.2% | $3,192-71.6% |
| Admin fee / account holder | $2,226 | $3,610-38.3% | $5,300-58.0% | $4,297-48.2% |