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| Provider | Service type | Compensation |
|---|---|---|
Filed as: CANANDAIGUA NATIONAL BANK AND TRUST Service code 21 · EIN 16-0373410 | Bank Trustee | $9,357 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
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 | $18,743 | $135,956-86.2% | $123,894-84.9% | $273,972-93.2% |
| Participation rate | 52.6% | 84.1%-31.4pp | 81.4%-28.8pp | 83.0%-30.4pp |
| Annual return | 7.20% | 56.63%-49.4pp | 47.52%-40.3pp | 41.46%-34.3pp |
| Employer contribution / active EE | $0 | $5,170-100.0% | $4,617-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $7,459 | $6,343+17.6% | $5,984+24.6% | $5,287+41.1% |
| Admin fee / account holder | $120 | $9,817-98.8% | $8,357-98.6% | $10,133-98.8% |