Filed August 2, 2022 (most recent of 2 filings on file)
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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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,198 | $60,119-89.7% | $90,430-93.1% | $79,858-92.2% |
| Participation rate | 11.2% | 65.0%-53.8pp | 72.7%-61.5pp | 69.6%-58.4pp |
| Annual return | 101.20% | 71.94%+29.3pp | 1293.73%-1192.5pp | 31.72%+69.5pp |
| Employer contribution / active EE | $249 | $2,068-87.9% | $3,262-92.4% | $2,471-89.9% |
| Participant deferral / active EE | $509 | $2,938-82.7% | $3,963-87.2% | $3,740-86.4% |
| Admin fee / account holder | $473 | $3,976-88.1% | $5,613-91.6% | $5,306-91.1% |