Filed December 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PARSEC FINANCIAL MANAGEMENT10+ years Filed as: PARSEC FINANCIAL MANAGEMENT, INC. Service code 21 · EIN 56-1443390 | Bank Trustee | $31,202 |
EPIC RETIREMENT PLAN SERVICES10+ years Filed as: THE RETIREMENT PLAN COMPANY Service code 51 · EIN 38-3712991 | Investment Mgmt Fees | $25,358 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $116,694 | $88,203+32.3% | $165,100-29.3% | $74,478+56.7% |
| Participation rate | 51.7% | 73.1%-21.4pp | 78.6%-26.9pp | 67.2%-15.5pp |
| Annual return | 14.76% | 17.13%-2.4pp | 70.21%-55.4pp | 1370.56%-1355.8pp |
| Employer contribution / active EE | $1,165 | $2,601-55.2% | $4,348-73.2% | $2,626-55.6% |
| Participant deferral / active EE | $2,528 | $4,505-43.9% | $6,035-58.1% | $4,350-41.9% |
| Admin fee / account holder | $479 | $2,235-78.6% | $12,696-96.2% | $1,946-75.4% |