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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3+ years Service code 15 · EIN 16-1124166 220 KENNETH DRIVE · ROCHESTER, NY 14623 | Recordkeeping | $9,948 |
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).
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 | $16,933 | $155,795-89.1% | $136,298-87.6% | $69,631-75.7% |
| Participation rate | 50.3% | 75.2%-25.0pp | 81.9%-31.6pp | 70.7%-20.4pp |
| Annual return | 23.03% | 232464.33%-232441.3pp | 5156.27%-5133.2pp | 27571.02%-27548.0pp |
| Employer contribution / active EE | $481 | $2,991-83.9% | $4,696-89.8% | $2,032-76.3% |
| Participant deferral / active EE | $2,384 | $5,394-55.8% | $6,247-61.8% | $3,224-26.1% |
| Admin fee / account holder | $33 | $128-74.4% | $9,244-99.6% | $110-70.3% |