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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $130 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,945 | $38,595-63.9% | $80,004-82.6% | $52,331-73.4% |
| Participation rate | 28.3% | 64.5%-36.2pp | 73.0%-44.7pp | 68.1%-39.8pp |
| Annual return | -3.08% | 2.04%-5.1pp | 7.63%-10.7pp | 4.54%-7.6pp |
| Employer contribution / active EE | $594 | $1,133-47.6% | $2,473-76.0% | $1,882-68.5% |
| Participant deferral / active EE | $958 | $2,318-58.7% | $3,204-70.1% | $3,022-68.3% |
| Admin fee / account holder | $3 | $304-99.0% | $5,033-99.9% | $592-99.5% |