Filed October 8, 2019
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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 | $7,210 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return 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).
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 | $20,734 | $101,672-79.6% | $147,117-85.9% | $74,478-72.2% |
| Participation rate | 96.3% | 75.5%+20.7pp | 82.2%+14.1pp | 67.2%+29.0pp |
| Annual return | 8.87% | 8757.83%-8749.0pp | 420.54%-411.7pp | 1370.56%-1361.7pp |
| Employer contribution / active EE | $1,332 | $3,813-65.1% | $4,932-73.0% | $2,626-49.3% |
| Participant deferral / active EE | $2,373 | $7,305-67.5% | $8,065-70.6% | $4,350-45.4% |
| Admin fee / account holder | $78 | $1,753-95.5% | $12,993-99.4% | $1,946-96.0% |