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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,342 | $52,836-10.4% | $105,738-55.2% | $64,173-26.2% |
| Participation rate | 30.6% | 66.5%-36.0pp | 76.3%-45.8pp | 69.6%-39.0pp |
| Annual return | -1.22% | 14.30%-15.5pp | 6.27%-7.5pp | 7.63%-8.9pp |
| Employer contribution / active EE | $942 | $1,827-48.5% | $3,268-71.2% | $2,381-60.5% |
| Participant deferral / active EE | $2,379 | $2,545-6.5% | $4,080-41.7% | $3,470-31.4% |
| Admin fee / account holder | $3,640 | $3,959-8.1% | $6,913-47.4% | $4,887-25.5% |