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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.2+ years Service code 15 · EIN 16-1124166 220 KENNETH DRIVE · ROCHESTER, NY 14623 | Recordkeeping | $6,056 |
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).
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 | $11,429 | $38,969-70.7% | $109,313-89.5% | $55,167-79.3% |
| Participation rate | 43.7% | 58.2%-14.6pp | 71.3%-27.6pp | 69.0%-25.3pp |
| Annual return | 9.22% | 8.26%+1.0pp | 22.07%-12.8pp | 169.23%-160.0pp |
| Employer contribution / active EE | $225 | $1,227-81.7% | $3,892-94.2% | $1,963-88.5% |
| Participant deferral / active EE | $788 | $2,176-63.8% | $3,166-75.1% | $3,054-74.2% |
| Admin fee / account holder | $63 | $501-87.5% | $5,666-98.9% | $504-87.5% |