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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $5,275 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $7,519 | $31,424-76.1% | $81,473-90.8% | $69,631-89.2% |
| Participation rate | 57.2% | 50.8%+6.4pp | 68.0%-10.8pp | 70.7%-13.5pp |
| Annual return | 30.33% | 22.44%+7.9pp | 38.78%-8.5pp | 27571.02%-27540.7pp |
| Employer contribution / active EE | $77 | $1,029-92.5% | $2,568-97.0% | $2,032-96.2% |
| Participant deferral / active EE | $2,492 | $1,838+35.6% | $3,537-29.5% | $3,224-22.7% |
| Admin fee / account holder | $13 | $103-87.7% | $4,561-99.7% | $110-88.6% |