Filed October 8, 2019
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 5-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $7,549 |
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,365 | $91,407-79.9% | $135,903-86.5% | $71,457-74.3% |
| Participation rate | 98.3% | 75.7%+22.6pp | 81.9%+16.4pp | 67.9%+30.4pp |
| Annual return | 11.19% | 29.90%-18.7pp | 68.23%-57.0pp | 28.85%-17.7pp |
| Employer contribution / active EE | $1,248 | $3,703-66.3% | $4,856-74.3% | $2,588-51.8% |
| Participant deferral / active EE | $2,191 | $7,092-69.1% | $7,758-71.8% | $4,289-48.9% |
| Admin fee / account holder | $143 | $1,266-88.7% | $10,762-98.7% | $1,587-91.0% |