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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 | $18,745 |
PAYCHEX, INC.6+ years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $5,662 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $71,871 | $59,804+20.2% | $81,982-12.3% | $79,856-10.0% |
| Participation rate | 89.6% | 61.6%+27.9pp | 69.3%+20.3pp | 69.6%+19.9pp |
| Annual return | 10.36% | 17.56%-7.2pp | 41.31%-31.0pp | 31.71%-21.4pp |
| Employer contribution / active EE | $0 | $1,713-100.0% | $2,498-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $3,093 | $2,695+14.8% | $3,722-16.9% | $3,741-17.3% |
| Admin fee / account holder | $325 | $4,288-92.4% | $5,665-94.3% | $5,306-93.9% |