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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1 year Service code 15 · EIN 16-1124166 220 KENNETH DRIVE · ROCHESTER, NY 14623 | Recordkeeping | $124,307 |
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.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $83,037 | $51,466+61.3% | $78,778+5.4% | $62,293+33.3% |
| Participation rate | 38.5% | 59.8%-21.3pp | 69.2%-30.7pp | 69.5%-31.0pp |
| Annual return | 16.96% | 19.96%-3.0pp | 35.62%-18.7pp | 28.90%-11.9pp |
| Employer contribution / active EE | $0 | $827-100.0% | $1,986-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,687 | $2,147-21.4% | $2,958-43.0% | $3,169-46.8% |
| Admin fee / account holder | $444 | $489-9.3% | $5,134-91.4% | $479-7.4% |