Filed July 29, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $118,409 | $67,894+74.4% | $89,340+32.5% | $82,448+43.6% |
| Participation rate | 35.6% | 64.0%-28.5pp | 69.6%-34.0pp | 68.1%-32.5pp |
| Annual return | 11.29% | 19.21%-7.9pp | 20.57%-9.3pp | 41.64%-30.4pp |
| Employer contribution / active EE | $1,341 | $1,828-26.6% | $2,231-39.9% | $2,551-47.4% |
| Participant deferral / active EE | $3,412 | $3,072+11.1% | $3,823-10.7% | $4,139-17.6% |
| Admin fee / account holder | $2,416 | $5,723-57.8% | $6,704-64.0% | $7,234-66.6% |