Filed August 31, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $15,306 | $45,043-66.0% | $63,005-75.7% | $70,124-78.2% |
| Participation rate | 20.0% | 69.5%-49.5pp | 74.8%-54.8pp | 69.5%-49.5pp |
| Annual return | 10.11% | 18.76%-8.7pp | 87.59%-77.5pp | 73.14%-63.0pp |
| Employer contribution / active EE | $0 | $2,052-100.0% | $2,760-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $7 | $2,466-99.7% | $3,329-99.8% | $3,332-99.8% |
| Admin fee / account holder | $1,212 | $2,833-57.2% | $3,599-66.3% | $4,645-73.9% |