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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $343 |
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.
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).
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 | $3,880 | $33,914-88.6% | $63,412-93.9% | $52,331-92.6% |
| Participation rate | 21.4% | 59.6%-38.2pp | 67.1%-45.7pp | 68.1%-46.7pp |
| Annual return | -1.97% | 3.22%-5.2pp | 4.04%-6.0pp | 4.54%-6.5pp |
| Employer contribution / active EE | $224 | $1,121-80.0% | $1,814-87.6% | $1,882-88.1% |
| Participant deferral / active EE | $516 | $1,733-70.2% | $2,496-79.3% | $3,022-82.9% |
| Admin fee / account holder | $11 | $353-96.8% | $3,753-99.7% | $592-98.1% |