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 | $88,137+32.4% | $164,975-29.3% | $74,429+56.8% |
| Participation rate | 51.7% | 73.1%-21.4pp | 78.6%-26.9pp | 67.2%-15.5pp |
| Annual return | 14.76% | 17.13%-2.4pp | 70.12%-55.4pp | 1368.38%-1353.6pp |
| Employer contribution / active EE | $1,165 | $2,597-55.2% | $4,343-73.2% | $2,625-55.6% |
| Participant deferral / active EE | $2,528 | $4,501-43.8% | $6,033-58.1% | $4,348-41.9% |
| Admin fee / account holder | $479 | $2,231-78.5% | $12,688-96.2% | $1,944-75.3% |