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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $99,636 |
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $19,385 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,686 | $34,634-51.8% | $77,096-78.4% | $64,819-74.3% |
| Participation rate | 28.6% | 49.8%-21.3pp | 67.9%-39.4pp | 71.5%-42.9pp |
| Annual return | -15.93% | -5.31%-10.6pp | 42.35%-58.3pp | 32.84%-48.8pp |
| Employer contribution / active EE | $358 | $1,385-74.1% | $2,814-87.3% | $2,507-85.7% |
| Participant deferral / active EE | $538 | $2,553-78.9% | $4,429-87.8% | $4,311-87.5% |
| Admin fee / account holder | $125 | $178-29.8% | $5,428-97.7% | $188-33.4% |