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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1 year Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $18,423 |
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.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,273 | $101,317-79.0% | $146,958-85.5% | $74,495-71.4% |
| Participation rate | 46.2% | 75.5%-29.3pp | 82.2%-36.0pp | 67.2%-21.0pp |
| Annual return | 14.17% | 8730.91%-8716.7pp | 418.34%-404.2pp | 1364.94%-1350.8pp |
| Employer contribution / active EE | $1,084 | $3,810-71.5% | $4,933-78.0% | $2,623-58.7% |
| Participant deferral / active EE | $2,762 | $7,303-62.2% | $8,070-65.8% | $4,346-36.4% |
| Admin fee / account holder | $144 | $1,739-91.7% | $12,998-98.9% | $1,942-92.6% |