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 | $37,158 | $51,708-28.1% | $106,619-65.1% | $62,881-40.9% |
| Participation rate | 33.3% | 66.9%-33.5pp | 78.0%-44.7pp | 69.3%-36.0pp |
| Annual return | -0.67% | 4.69%-5.4pp | 9.42%-10.1pp | 20.14%-20.8pp |
| Employer contribution / active EE | $618 | $1,764-64.9% | $3,947-84.3% | $2,281-72.9% |
| Participant deferral / active EE | $1,816 | $2,315-21.6% | $3,930-53.8% | $3,203-43.3% |
| Admin fee / account holder | $2,060 | $3,349-38.5% | $6,418-67.9% | $4,296-52.1% |