Filed September 16, 2020
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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 | $20,900 | $77,817-73.1% | $123,553-83.1% | $64,173-67.4% |
| Participation rate | 30.0% | 74.7%-44.7pp | 82.3%-52.3pp | 69.6%-39.6pp |
| Annual return | -6.59% | 12.49%-19.1pp | 119.21%-125.8pp | 7.63%-14.2pp |
| Employer contribution / active EE | $792 | $3,014-73.7% | $4,628-82.9% | $2,381-66.7% |
| Participant deferral / active EE | $1,618 | $5,240-69.1% | $6,426-74.8% | $3,470-53.4% |
| Admin fee / account holder | $4,671 | $5,519-15.4% | $9,284-49.7% | $4,887-4.4% |