Filed December 22, 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 | $37,916 | $73,019-48.1% | $90,766-58.2% | $68,490-44.6% |
| Participation rate | 45.7% | 70.8%-25.1pp | 75.7%-30.0pp | 67.9%-22.2pp |
| Annual return | -15.65% | -13.81%-1.8pp | -12.16%-3.5pp | -7.85%-7.8pp |
| Employer contribution / active EE | $0 | $2,193-100.0% | $2,922-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $1,929 | $3,626-46.8% | $4,565-57.8% | $4,028-52.1% |
| Admin fee / account holder | $8,723 | $5,897+47.9% | $8,446+3.3% | $5,403+61.4% |