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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $25,696 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,125 | $95,369-76.8% | $135,942-83.7% | $74,440-70.3% |
| Participation rate | 44.5% | 78.2%-33.7pp | 81.9%-37.4pp | 70.7%-26.2pp |
| Annual return | 26.78% | 32.72%-5.9pp | 68.28%-41.5pp | 34.37%-7.6pp |
| Employer contribution / active EE | $1,391 | $3,878-64.1% | $4,858-71.4% | $2,638-47.3% |
| Participant deferral / active EE | $2,480 | $7,788-68.2% | $7,759-68.0% | $4,529-45.2% |
| Admin fee / account holder | $122 | $266-54.3% | $10,764-98.9% | $348-65.0% |