Filed December 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PARSEC FINANCIAL MANAGEMENT7+ years Filed as: PARSEC FINANCIAL MANAGEMENT, INC. Service code 21 · EIN 56-1443390 | Bank Trustee | $26,196 |
EPIC RETIREMENT PLAN SERVICES7+ years Filed as: THE RETIREMENT PLAN COMPANY Service code 51 · EIN 38-3712991 | Investment Mgmt Fees | $25,080 |
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 | $103,999 | $93,182+11.6% | $146,643-29.1% | $79,391+31.0% |
| Participation rate | 51.7% | 76.4%-24.8pp | 80.1%-28.4pp | 70.7%-19.1pp |
| Annual return | 18.28% | 21.61%-3.3pp | 22.75%-4.5pp | 116.88%-98.6pp |
| Employer contribution / active EE | $1,132 | $2,420-53.2% | $4,137-72.6% | $2,428-53.4% |
| Participant deferral / active EE | $2,229 | $4,169-46.5% | $5,506-59.5% | $4,046-44.9% |
| Admin fee / account holder | $442 | $585-24.5% | $10,280-95.7% | $627-29.5% |