Filed January 29, 2021
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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 | $16,974 | $45,109-62.4% | $85,187-80.1% | $77,736-78.2% |
| Participation rate | 10.2% | 48.7%-38.4pp | 67.5%-57.3pp | 70.6%-60.4pp |
| Annual return | 12.98% | 79.55%-66.6pp | 66.67%-53.7pp | 31.26%-18.3pp |
| Employer contribution / active EE | $243 | $1,602-84.8% | $2,732-91.1% | $2,728-91.1% |
| Participant deferral / active EE | $296 | $2,814-89.5% | $4,525-93.5% | $4,651-93.6% |
| Admin fee / account holder | $1,992 | $915+117.8% | $6,162-67.7% | $433+359.8% |