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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.4 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $19,602 |
MORRISSEY WEALTH MANAGEMENT4 years Service code 15 · EIN 13-3749682 97 WASHINGTON AVE · NORTH HAVEN, CT 06473 | Recordkeeping | $8,469 |
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.
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,080 | $47,163-74.4% | $149,696-91.9% | $74,460-83.8% |
| Participation rate | 41.6% | 63.4%-21.9pp | 78.8%-37.2pp | 70.7%-29.2pp |
| Annual return | 22.98% | 22.75%+0.2pp | 134.46%-111.5pp | 34.38%-11.4pp |
| Employer contribution / active EE | $0 | $1,907-100.0% | $4,821-100.0% | $2,638-100.0% |
| Participant deferral / active EE | $1,111 | $2,730-59.3% | $5,682-80.4% | $4,530-75.5% |
| Admin fee / account holder | $192 | $343-44.1% | $13,212-98.5% | $348-44.9% |