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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 | $10,754 |
PAYCHEX, INC.7+ years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $5,253 |
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.
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $65,285 | $59,584+9.6% | $86,615-24.6% | $79,391-17.8% |
| Participation rate | 47.7% | 67.7%-20.0pp | 71.6%-23.9pp | 70.7%-23.0pp |
| Annual return | 16.43% | 23.15%-6.7pp | 63.51%-47.1pp | 116.88%-100.5pp |
| Employer contribution / active EE | $225 | $1,768-87.3% | $2,496-91.0% | $2,428-90.7% |
| Participant deferral / active EE | $1,952 | $3,036-35.7% | $3,699-47.2% | $4,046-51.8% |
| Admin fee / account holder | $250 | $604-58.6% | $5,830-95.7% | $627-60.1% |