Filed October 15, 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 | $63,017 | $65,034-3.1% | $90,970-30.7% | $79,856-21.1% |
| Participation rate | 23.5% | 61.6%-38.1pp | 69.0%-45.5pp | 69.6%-46.1pp |
| Annual return | 25.36% | 30.45%-5.1pp | 134.60%-109.2pp | 31.71%-6.4pp |
| Employer contribution / active EE | $0 | $1,247-100.0% | $2,122-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $395 | $2,512-84.3% | $3,373-88.3% | $3,741-89.4% |
| Admin fee / account holder | $14,692 | $4,536+223.9% | $5,961+146.5% | $5,306+176.9% |