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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $15,921 |
PAYCHEX, INC.1 year Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $7,498 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,687 | $54,573+5.7% | $90,970-36.6% | $73,497-21.5% |
| Participation rate | 43.0% | 61.2%-18.2pp | 69.0%-26.0pp | 70.7%-27.7pp |
| Annual return | 14.31% | 16.69%-2.4pp | 134.60%-120.3pp | 28.51%-14.2pp |
| Employer contribution / active EE | $0 | $991-100.0% | $2,122-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $2,551 | $2,517+1.4% | $3,373-24.4% | $3,740-31.8% |
| Admin fee / account holder | $350 | $521-33.0% | $5,961-94.1% | $513-31.9% |