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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1 year Service code 15 · EIN 16-1124166 220 KENNETH DRIVE · ROCHESTER, NY 14623 | Recordkeeping | $8,641 |
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.
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 | $29,199 | $71,192-59.0% | $117,861-75.2% | $62,293-53.1% |
| Participation rate | 39.5% | 74.2%-34.7pp | 79.7%-40.2pp | 69.5%-30.0pp |
| Annual return | 15.70% | 18.66%-3.0pp | 335.11%-319.4pp | 28.90%-13.2pp |
| Employer contribution / active EE | $266 | $1,934-86.2% | $3,786-93.0% | $2,042-87.0% |
| Participant deferral / active EE | $1,967 | $3,189-38.3% | $4,482-56.1% | $3,169-37.9% |
| Admin fee / account holder | $114 | $587-80.5% | $8,021-98.6% | $479-76.2% |