Filed December 18, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $11,808 |
Service code 15 1300 SW 5TH AVENUE, SUITE 2100 · PORTLAND, OR 97201 | Recordkeeping | $9,131 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $13,935 | $50,199-72.2% | $69,890-80.1% | $66,949-79.2% |
| Participation rate | 51.0% | 66.3%-15.4pp | 70.5%-19.5pp | 69.8%-18.9pp |
| Annual return | -18.04% | -13.85%-4.2pp | 190.84%-208.9pp | 1.57%-19.6pp |
| Employer contribution / active EE | $1,197 | $1,864-35.8% | $2,560-53.2% | $2,545-53.0% |
| Participant deferral / active EE | $2,052 | $3,112-34.1% | $3,848-46.7% | $4,239-51.6% |
| Admin fee / account holder | $222 | $600-63.0% | $6,267-96.5% | $594-62.6% |