Filed October 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.4+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $28,869 |
Service code 64 · EIN 13-2624428 | Recordkeeping Fees | $6,924 |
Filed as: MERRILL LYNCH PIERCE FENNER & Service code 27 · EIN 13-2624428 SMITH INCORPORATED · JACKSONVILLE, FL 32246 | Advisory (Plan) | $5,081 |
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.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,820 | $37,591-34.0% | $90,655-72.6% | $55,725-55.5% |
| Participation rate | 31.4% | 66.4%-35.0pp | 74.0%-42.6pp | 70.9%-39.5pp |
| Annual return | -2.99% | -3.20%+0.2pp | 1.89%-4.9pp | 244.93%-247.9pp |
| Employer contribution / active EE | $297 | $1,302-77.2% | $2,532-88.3% | $2,078-85.7% |
| Participant deferral / active EE | $819 | $2,643-69.0% | $3,425-76.1% | $3,356-75.6% |
| Admin fee / account holder | $159 | $100+59.1% | $4,994-96.8% | $115+38.1% |