Plan Ledger DOL Form 5500 · updated monthly

Parsec, Inc.401(k)

PARSEC, INC. PROFIT SHARING/401(K) PLAN · CINCINNATI, OH · plan year 2024

Employer contribution per participant · 2024
$1,634

Parsec, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $54,271,262 across 850 participant accounts, with employer contributions averaging $1,634 per active participant. See methodology for what Form 5500 does and doesn't capture.

Across the 1 year on file its reported administrative ratio fell from 0.04% to 0.01%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other transportation & warehousing employers. By assets it is the 616th-largest of 3,295 plans among Ohio employers on file, and the 363rd of 2,677 in transportation & warehousing. In 2024, employees put in $1.51 for every $1.00 the employer contributed; active participation has grown from 450 to 836 since 2022.

Plan summary
Net assets, end of year$54,271,262
Participants with balances850
Active participants836
Employer contributions$1,366,035
Employee contributions$2,063,390
Employer contribution per active participant$1,634
Average account balance$63,849
Benefits paid to participants$7,411,667
Plan auditUnmodified (clean) audit opinion
AuditorMRPR GROUP
Plan history3
Yearassets · accounts · employer contribution
2024$54.3M · 850 accts · $1.4M emplr
2023$48.9M · 703 accts · $1.5M emplr
2022$41.9M · 652 accts · $1.8M emplr
The Parsec, Inc. 401(k) match · 2024
Employer contribution per active participant$1,634
Median for plans this size$3,635
2024$1,634 per active participant
2023$2,930 per active participant
2022$3,971 per active participant

Parsec, Inc.'s 2024 employer contribution ran below the $3,635 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Service providers · 20241
FIDELITY INVESTMENTS INSTITUTIONAL · Loan processingindirect comp

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024Not separately reported
2023$5,144 · 0.01%
2022$19,727 · 0.04%
All plans at this employer2
PARSEC, INC. PROFIT SHARING/401(K) PLAN401(k)
INTERMODAL COLLECTIVELY BARGAINED PENSION PLANProfit-sharing plan
Same employer
Similar plansTransportation & Warehousing · Ohio
Beacon Mobility Corp. OH$89.4M · 0.45%
World Group LLC OH$75.1M · 0.14%
World Shipping, Inc. OH$46.6M · 0.09%
Commuteair LLC OH$43.7M · 0.04%
The Wheeling Corporation OH$42.6M · 0.27%
Dayton-Phoenix Group, Inc. OH$40.9M · 0.27%

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Source: U.S. Department of Labor, Form 5500 series, EIN 311411831 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.