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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 | $15,446 |
PAYCHEX, INC.3 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $9,842 |
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.)
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 | $25,996 | $84,482-69.2% | $125,363-79.3% | $66,930-61.2% |
| Participation rate | 68.9% | 76.4%-7.5pp | 82.4%-13.4pp | 69.8%-0.9pp |
| Annual return | -12.65% | -8.49%-4.2pp | 572.15%-584.8pp | 1.57%-14.2pp |
| Employer contribution / active EE | $2,769 | $3,553-22.1% | $4,815-42.5% | $2,545+8.8% |
| Participant deferral / active EE | $5,491 | $6,782-19.0% | $7,447-26.3% | $4,238+29.6% |
| Admin fee / account holder | $333 | $685-51.4% | $10,005-96.7% | $593-43.9% |