Filed September 7, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $29,203 | $72,269-59.6% | $101,271-71.2% | $79,852-63.4% |
| Participation rate | 51.5% | 68.5%-16.9pp | 75.8%-24.3pp | 69.6%-18.1pp |
| Annual return | 7.91% | 22.29%-14.4pp | 46.48%-38.6pp | 31.72%-23.8pp |
| Employer contribution / active EE | $1,188 | $2,692-55.9% | $3,660-67.5% | $2,471-51.9% |
| Participant deferral / active EE | $2,350 | $3,282-28.4% | $4,371-46.2% | $3,740-37.2% |
| Admin fee / account holder | $1,464 | $4,401-66.7% | $5,948-75.4% | $5,306-72.4% |