Filed December 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PARSEC FINANCIAL MANAGEMENT9+ years Filed as: PARSEC FINANCIAL MANAGEMENT, INC. Service code 21 · EIN 56-1443390 | Bank Trustee | $27,121 |
EPIC RETIREMENT PLAN SERVICES9+ years Filed as: THE RETIREMENT PLAN COMPANY Service code 51 · EIN 38-3712991 | Investment Mgmt Fees | $21,351 |
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 | $106,701 | $83,045+28.5% | $130,045-18.0% | $71,511+49.2% |
| Participation rate | 47.5% | 74.1%-26.6pp | 78.5%-31.0pp | 67.9%-20.4pp |
| Annual return | 19.80% | 20.61%-0.8pp | -137.30%+157.1pp | 28.86%-9.1pp |
| Employer contribution / active EE | $1,028 | $2,623-60.8% | $4,321-76.2% | $2,589-60.3% |
| Participant deferral / active EE | $2,264 | $4,436-49.0% | $5,820-61.1% | $4,291-47.2% |
| Admin fee / account holder | $437 | $1,727-74.7% | $10,600-95.9% | $1,588-72.5% |