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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Filed as: PAYCHEX, INC Service code 15 · EIN 16-1124166 1175 JOHN STREET · WEST HENRIETTA, NY 14586 | Recordkeeping | $928 |
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $37,621 | $38,595-2.5% | $80,004-53.0% | $52,331-28.1% |
| Participation rate | 22.6% | 64.5%-41.9pp | 73.0%-50.4pp | 68.1%-45.5pp |
| Annual return | -3.07% | 2.04%-5.1pp | 7.63%-10.7pp | 4.54%-7.6pp |
| Employer contribution / active EE | $0 | $1,133-100.0% | $2,473-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $1,820 | $2,318-21.5% | $3,204-43.2% | $3,022-39.8% |
| Admin fee / account holder | $381 | $304+25.2% | $5,033-92.4% | $592-35.6% |