Filed November 12, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $55,181 |
Filed as: RAYMOND JAMES FSA INC. Service code 26 · EIN 59-2937883 | Advisory (Participants) | $39,925 |
Service code 13 · EIN 27-2487837 1110 N. MOUNTAIN RD · HARRISBURG, PA 17112 | Contract Administrator | $27,771 |
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.
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 | $77,096 | $71,142+8.4% | $119,622-35.6% | $64,819+18.9% |
| Participation rate | 62.7% | 78.6%-15.9pp | 79.3%-16.6pp | 71.5%-8.8pp |
| Annual return | -16.99% | -10.01%-7.0pp | -14.98%-2.0pp | 32.84%-49.8pp |
| Employer contribution / active EE | $784 | $2,497-68.6% | $4,232-81.5% | $2,507-68.7% |
| Participant deferral / active EE | $3,985 | $4,490-11.2% | $5,601-28.8% | $4,311-7.6% |
| Admin fee / account holder | $443 | $162+173.3% | $10,328-95.7% | $188+135.9% |