Filed April 23, 2025
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201 | Recordkeeping | $23,575 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $9,860 | $83,023-88.1% | $102,437-90.4% | $77,762-87.3% |
| Participation rate | 20.3% | 71.5%-51.2pp | 74.5%-54.2pp | 70.6%-50.3pp |
| Annual return | 13.55% | 19.12%-5.6pp | 24.95%-11.4pp | 31.27%-17.7pp |
| Employer contribution / active EE | $0 | $3,552-100.0% | $3,871-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $476 | $4,110-88.4% | $5,060-90.6% | $4,651-89.8% |
| Admin fee / account holder | $98 | $639-84.7% | $8,388-98.8% | $433-77.4% |