Plan Snapshot
- Plan Sponsor: Progress Software Corporation
- Sponsor EIN: 042746201
- Sponsor Address: 15 WAYSIDE ROAD, BURLINGTON, MA, 01803
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 1,859
- Total Assets: $463.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 1,859 | $463.3M | $0 | $0 |
| 2024 | 1,254 | $405.5M | $4.2M | $13.7M |
| 2023 | 846 | $353.8M | $4.0M | $13.3M |
| 2022 | 793 | $282.8M | $3.1M | $10.9M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| STRATEGIC ADVISERS LLC | Investment Advisor | $120,681 | — | $120,681 |
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $103,692 | — | $103,692 |
| CAPFINANCIAL PARTNERS, LLC. | Other Service Provider | $65,000 | — | $65,000 |
| HOLTHOUSE CARLIN & VAN TRIGT LLP | Auditor | $17,000 | — | $17,000 |
| STOWE & DEGON | Auditor | $15,400 | — | $15,400 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $321,773
- Estimated Expense Ratio: 0.069% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $45,212,673 | $120,681 | — | $32,400 | — |
| 2024 | -$89,259 | $96,335 | $1,500 | — | — |
| 2023 | -$285,237 | $81,334 | $300 | $25,900 | — |
| 2022 | -$264,043 | $72,221 | — | — | — |