Filed December 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PARSEC FINANCIAL MANAGEMENT3+ years Filed as: PARSEC FINANCIAL MANAGEMENT, INC. Service code 21 · EIN 56-1443390 | Bank Trustee | $17,842 |
EPIC RETIREMENT PLAN SERVICES3+ years Filed as: THE RETIREMENT PLAN COMPANY Service code 51 · EIN 38-3712991 | Investment Mgmt Fees | $12,914 |
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.
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 | $60,799 | $71,192-14.6% | $117,861-48.4% | $62,293-2.4% |
| Participation rate | 58.6% | 74.2%-15.6pp | 79.7%-21.0pp | 69.5%-10.9pp |
| Annual return | 20.32% | 18.66%+1.7pp | 335.11%-314.8pp | 28.90%-8.6pp |
| Employer contribution / active EE | $613 | $1,934-68.3% | $3,786-83.8% | $2,042-70.0% |
| Participant deferral / active EE | $1,543 | $3,189-51.6% | $4,482-65.6% | $3,169-51.3% |
| Admin fee / account holder | $266 | $587-54.7% | $8,021-96.7% | $479-44.5% |