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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $12,058 |
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $715 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $4,976 | $31,109-84.0% | $67,704-92.6% | $52,331-90.5% |
| Participation rate | 40.6% | 54.0%-13.4pp | 67.5%-26.9pp | 68.1%-27.5pp |
| Annual return | -3.34% | 23.70%-27.0pp | 25.41%-28.8pp | 4.54%-7.9pp |
| Employer contribution / active EE | $345 | $1,076-67.9% | $2,559-86.5% | $1,882-81.6% |
| Participant deferral / active EE | $686 | $1,970-65.2% | $3,585-80.9% | $3,022-77.3% |
| Admin fee / account holder | $4 | $466-99.0% | $4,255-99.9% | $592-99.2% |