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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $23,513 |
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $2,071 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,852 | $54,320-37.7% | $67,652-50.0% | $52,331-35.3% |
| Participation rate | 58.1% | 73.6%-15.5pp | 75.7%-17.5pp | 68.1%-10.0pp |
| Annual return | -0.72% | 6.81%-7.5pp | 6625.40%-6626.1pp | 4.54%-5.3pp |
| Employer contribution / active EE | $571 | $1,544-63.0% | $2,266-74.8% | $1,882-69.6% |
| Participant deferral / active EE | $2,018 | $2,950-31.6% | $3,560-43.3% | $3,022-33.2% |
| Admin fee / account holder | $22 | $527-95.8% | $4,821-99.5% | $592-96.3% |