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| Provider | Service type | Compensation |
|---|---|---|
Filed as: WEALTH ENHANCEMENT ADVISORY SERVICE Service code 15 · EIN 04-3046611 505 N HWY 169 · PLYMOUTH, MN 55373 | Recordkeeping | $16,218 |
PAYCHEX, INC.2 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $12,455 |
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.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,006 | $77,908-64.1% | $149,696-81.3% | $75,173-62.7% |
| Participation rate | 55.2% | 65.6%-10.4pp | 78.8%-23.6pp | 67.2%-12.0pp |
| Annual return | 17.90% | 31.73%-13.8pp | 134.46%-116.6pp | 160.72%-142.8pp |
| Employer contribution / active EE | $2,316 | $3,138-26.2% | $4,821-52.0% | $2,671-13.3% |
| Participant deferral / active EE | $4,061 | $3,411+19.1% | $5,682-28.5% | $4,126-1.6% |
| Admin fee / account holder | $318 | $5,950-94.7% | $13,212-97.6% | $5,651-94.4% |