Filed December 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
EPIC RETIREMENT PLAN SERVICES6+ years Filed as: THE RETIREMENT PLAN COMPANY Service code 51 · EIN 38-3712991 | Investment Mgmt Fees | $23,365 |
PARSEC FINANCIAL MANAGEMENT6+ years Filed as: PARSEC FINANCIAL MANAGEMENT, INC. Service code 21 · EIN 56-1443390 | Bank Trustee | $21,797 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $88,209 | $81,494+8.2% | $133,978-34.2% | $73,497+20.0% |
| Participation rate | 52.5% | 76.4%-23.8pp | 79.8%-27.3pp | 70.7%-18.2pp |
| Annual return | 15.12% | 19.40%-4.3pp | 45.10%-30.0pp | 28.51%-13.4pp |
| Employer contribution / active EE | $690 | $2,210-68.8% | $3,919-82.4% | $2,270-69.6% |
| Participant deferral / active EE | $1,711 | $3,787-54.8% | $5,047-66.1% | $3,740-54.3% |
| Admin fee / account holder | $388 | $713-45.7% | $8,930-95.7% | $513-24.5% |