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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.4 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $7,983 |
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $3,485 | $51,288-93.2% | $81,983-95.7% | $73,409-95.3% |
| Participation rate | 47.8% | 64.0%-16.2pp | 69.2%-21.5pp | 72.2%-24.4pp |
| Annual return | 11.72% | 29.48%-17.8pp | 41.31%-29.6pp | 59.29%-47.6pp |
| Employer contribution / active EE | $438 | $1,487-70.5% | $2,498-82.5% | $2,234-80.4% |
| Participant deferral / active EE | $846 | $2,715-68.8% | $3,722-77.3% | $3,805-77.8% |
| Admin fee / account holder | $34 | $125-72.8% | $5,664-99.4% | $158-78.5% |