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.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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,734 | $101,317-79.5% | $146,958-85.9% | $74,495-72.2% |
| Participation rate | 96.3% | 75.5%+20.7pp | 82.2%+14.1pp | 67.2%+29.1pp |
| Annual return | 8.87% | 8730.91%-8722.0pp | 418.34%-409.5pp | 1364.94%-1356.1pp |
| Employer contribution / active EE | $1,332 | $3,810-65.0% | $4,933-73.0% | $2,623-49.2% |
| Participant deferral / active EE | $2,373 | $7,303-67.5% | $8,070-70.6% | $4,346-45.4% |
| Admin fee / account holder | $78 | $1,739-95.5% | $12,998-99.4% | $1,942-96.0% |