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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.1+ years Service code 15 · EIN 16-1124166 | Recordkeeping | $728 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant 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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $52,142 | $59,231-12.0% | $90,223-42.2% | $52,331-0.4% |
| Participation rate | 29.4% | 75.0%-45.6pp | 79.0%-49.7pp | 68.1%-38.7pp |
| Annual return | -0.63% | 3.53%-4.2pp | 1.31%-1.9pp | 4.54%-5.2pp |
| Employer contribution / active EE | $27 | $3,391-99.2% | $4,378-99.4% | $1,882-98.6% |
| Participant deferral / active EE | $2,673 | $4,659-42.6% | $5,792-53.9% | $3,022-11.6% |
| Admin fee / account holder | $27 | $515-94.7% | $7,406-99.6% | $592-95.4% |