Filed October 8, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.2 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $5,247 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,540 | $84,499-84.0% | $125,391-89.2% | $66,949-79.8% |
| Participation rate | 99.1% | 76.4%+22.7pp | 82.4%+16.7pp | 69.8%+29.3pp |
| Annual return | -6.07% | -8.49%+2.4pp | 572.41%-578.5pp | 1.57%-7.6pp |
| Employer contribution / active EE | $1,303 | $3,554-63.3% | $4,816-72.9% | $2,545-48.8% |
| Participant deferral / active EE | $2,193 | $6,785-67.7% | $7,448-70.6% | $4,239-48.3% |
| Admin fee / account holder | $59 | $685-91.5% | $10,009-99.4% | $594-90.1% |