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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 | $5,367 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $15,712 | $63,156-75.1% | $122,354-87.2% | $62,293-74.8% |
| Participation rate | 72.1% | 60.0%+12.1pp | 71.6%+0.5pp | 69.5%+2.6pp |
| Annual return | 11.64% | 20.61%-9.0pp | 30.28%-18.6pp | 28.90%-17.3pp |
| Employer contribution / active EE | $996 | $1,385-28.1% | $4,051-75.4% | $2,042-51.2% |
| Participant deferral / active EE | $2,220 | $2,321-4.3% | $3,287-32.5% | $3,169-29.9% |
| Admin fee / account holder | $75 | $440-82.9% | $5,479-98.6% | $479-84.3% |