Filed June 14, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $118,831 | $106,749+11.3% | $145,433-18.3% | $82,448+44.1% |
| Participation rate | 22.7% | 75.6%-52.9pp | 82.1%-59.4pp | 68.1%-45.3pp |
| Annual return | 15.25% | 27.59%-12.3pp | 66.58%-51.3pp | 41.64%-26.4pp |
| Employer contribution / active EE | $2 | $3,444-99.9% | $4,554-100.0% | $2,551-99.9% |
| Participant deferral / active EE | $2,746 | $6,519-57.9% | $7,897-65.2% | $4,139-33.7% |
| Admin fee / account holder | $18,393 | $8,390+119.2% | $13,129+40.1% | $7,234+154.2% |