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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $863 |
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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $5,039 | $53,412-90.6% | $68,509-92.6% | $52,331-90.4% |
| Participation rate | 34.9% | 71.7%-36.7pp | 74.7%-39.8pp | 68.1%-33.2pp |
| Annual return | 28.96% | 3.42%+25.5pp | 8.27%+20.7pp | 4.54%+24.4pp |
| Employer contribution / active EE | $331 | $1,607-79.4% | $2,278-85.4% | $1,882-82.4% |
| Participant deferral / active EE | $675 | $2,688-74.9% | $3,382-80.0% | $3,022-77.7% |
| Admin fee / account holder | $20 | $461-95.6% | $5,275-99.6% | $592-96.6% |