Filed August 6, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $63,597 | $39,132+62.5% | $57,196+11.2% | $62,881+1.1% |
| Participation rate | 35.0% | 70.5%-35.5pp | 75.3%-40.3pp | 69.3%-34.3pp |
| Annual return | 14.09% | 9.24%+4.8pp | 14.59%-0.5pp | 20.14%-6.1pp |
| Employer contribution / active EE | $0 | $1,874-100.0% | $2,683-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,741 | $2,374-26.7% | $3,096-43.8% | $3,203-45.6% |
| Admin fee / account holder | $3,778 | $2,594+45.6% | $3,141+20.3% | $4,296-12.1% |