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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,860 | $82,917-88.1% | $103,333-90.5% | $77,643-87.3% |
| Participation rate | 20.3% | 71.6%-51.3pp | 74.5%-54.2pp | 70.6%-50.3pp |
| Annual return | 13.55% | 19.13%-5.6pp | 24.88%-11.3pp | 31.24%-17.7pp |
| Employer contribution / active EE | $0 | $3,552-100.0% | $3,868-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $476 | $4,108-88.4% | $5,057-90.6% | $4,647-89.8% |
| Admin fee / account holder | $98 | $638-84.7% | $8,355-98.8% | $430-77.3% |