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Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
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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.1 year Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $19,013 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,514 | $51,638-68.0% | $68,368-75.8% | $82,448-80.0% |
| Participation rate | 51.0% | 63.6%-12.6pp | 73.8%-22.7pp | 68.1%-17.0pp |
| Annual return | 11.18% | 37.53%-26.4pp | 292.57%-281.4pp | 41.64%-30.5pp |
| Employer contribution / active EE | $1,439 | $2,047-29.7% | $2,649-45.7% | $2,551-43.6% |
| Participant deferral / active EE | $3,411 | $2,914+17.1% | $4,123-17.3% | $4,139-17.6% |
| Admin fee / account holder | $328 | $4,643-92.9% | $5,150-93.6% | $7,234-95.5% |