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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 | $8,275 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $18,336 | $80,753-77.3% | $136,297-86.5% | $62,293-70.6% |
| Participation rate | 54.5% | 73.5%-19.0pp | 81.9%-27.4pp | 69.5%-15.0pp |
| Annual return | 29.91% | 35.83%-5.9pp | 5156.16%-5126.2pp | 28.90%+1.0pp |
| Employer contribution / active EE | $0 | $2,884-100.0% | $4,696-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $4,119 | $5,164-20.2% | $6,247-34.1% | $3,169+30.0% |
| Admin fee / account holder | $135 | $525-74.3% | $9,244-98.5% | $479-71.8% |