Filed July 26, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201 | Recordkeeping | $2,823 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $81,260 | $95,438-14.9% | $135,982-40.2% | $74,473+9.1% |
| Participation rate | 44.4% | 78.2%-33.8pp | 81.9%-37.5pp | 70.7%-26.3pp |
| Annual return | 19.01% | 32.61%-13.6pp | 68.32%-49.3pp | 34.36%-15.3pp |
| Employer contribution / active EE | $537 | $3,878-86.2% | $4,859-89.0% | $2,638-79.7% |
| Participant deferral / active EE | $3,791 | $7,790-51.3% | $7,760-51.2% | $4,530-16.3% |
| Admin fee / account holder | $131 | $259-49.5% | $10,767-98.8% | $347-62.3% |