Filed December 18, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.4 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $15,294 |
Service code 15 1300 SW 5TH AVENUE, SUITE 2100 · PORTLAND, OR 97201 | Recordkeeping | $9,028 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,687 | $56,438-65.1% | $76,902-74.4% | $71,529-72.5% |
| Participation rate | 47.2% | 64.3%-17.1pp | 69.6%-22.4pp | 67.9%-20.7pp |
| Annual return | 21.56% | 19.05%+2.5pp | 37.91%-16.4pp | 28.97%-7.4pp |
| Employer contribution / active EE | $1,218 | $1,864-34.6% | $2,534-51.9% | $2,590-53.0% |
| Participant deferral / active EE | $2,360 | $3,136-24.7% | $3,833-38.4% | $4,291-45.0% |
| Admin fee / account holder | $128 | $1,430-91.0% | $5,479-97.7% | $1,588-91.9% |