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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.3 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $17,401 |
COMERICA BANK2 years Filed as: COMERICA SECURITIES INC Service code 15 411 LAFAYETTE · DETROIT, MI 48226 | Recordkeeping | $8,909 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,365 | $89,652-77.3% | $141,197-85.6% | $65,186-68.8% |
| Participation rate | 68.7% | 74.7%-6.0pp | 82.5%-13.8pp | 70.2%-1.5pp |
| Annual return | 17.21% | 32.79%-15.6pp | 71.41%-54.2pp | 29.39%-12.2pp |
| Employer contribution / active EE | $1,234 | $3,065-59.7% | $4,736-73.9% | $2,177-43.3% |
| Participant deferral / active EE | $2,189 | $5,691-61.5% | $6,710-67.4% | $3,514-37.7% |
| Admin fee / account holder | $129 | $569-77.4% | $10,265-98.7% | $847-84.8% |