Filed July 20, 2016 (most recent of 3 filings on file)
Total covered: 6 employees
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $854 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $25,425 | $36,916-31.1% | $156,551-83.8% | $57,658-55.9% |
| Participation rate | 65.4% | 63.4%+2.0pp | 84.0%-18.6pp | 70.2%-4.8pp |
| Annual return | 8.81% | 12.38%-3.6pp | 32.23%-23.4pp | 5.13%+3.7pp |
| Employer contribution / active EE | $689 | $1,571-56.1% | $5,501-87.5% | $1,974-65.1% |
| Participant deferral / active EE | $1,726 | $1,926-10.4% | $4,871-64.6% | $3,061-43.6% |
| Admin fee / account holder | $145 | $82+75.8% | $13,028-98.9% | $95+53.4% |