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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 | Recordkeeping | $15,334 |
PAYCHEX, INC.2 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $12,047 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $33,862 | $100,801-66.4% | $149,730-77.4% | $73,412-53.9% |
| Participation rate | 46.8% | 77.7%-30.9pp | 82.5%-35.7pp | 72.2%-25.4pp |
| Annual return | 41.48% | 265.34%-223.9pp | 276.70%-235.2pp | 59.30%-17.8pp |
| Employer contribution / active EE | $1,482 | $3,312-55.2% | $4,645-68.1% | $2,234-33.6% |
| Participant deferral / active EE | $2,539 | $6,404-60.4% | $6,843-62.9% | $3,806-33.3% |
| Admin fee / account holder | $150 | $181-16.8% | $9,310-98.4% | $158-4.7% |