Filed May 28, 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 | $28,964 | $77,472-62.6% | $100,392-71.1% | $80,935-64.2% |
| Participation rate | 53.8% | 76.9%-23.1pp | 81.5%-27.7pp | 67.7%-13.8pp |
| Annual return | 13.99% | 37.26%-23.3pp | 49.45%-35.5pp | 35.66%-21.7pp |
| Employer contribution / active EE | $1,727 | $2,800-38.3% | $3,941-56.2% | $2,757-37.3% |
| Participant deferral / active EE | $2,167 | $6,818-68.2% | $8,090-73.2% | $4,299-49.6% |
| Admin fee / account holder | $2,968 | $5,885-49.6% | $7,904-62.5% | $6,924-57.1% |