Retirement plan

VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN

Name: VERMONT INFORMATION PROCESSING, INC. - VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: VERMONT INFORMATION PROCESSING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN, VERMONT INFORMATION PROCESSING, INC.

VERMONT INFORMATION PROCESSING, INC.EIN 03-0231253Plan #001PY 2024

402 WATERTOWER CIRCLE - COLCHESTER, VT 05446802-655-9400LinkedIn1-10 employeesinformation technology and services

Other plans on this EIN

1 filing

#002Retirement-$676.1M assets

Prospect flagsLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$37.1M

+14.1% from 2023

Total participants

783

+2.9% from 2023

Average account balance

$60,843

+9.0% from 2023

Annual return

14.68%

-42.87 pp from 2023

Benchmarks

See 611 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort611 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$37.11M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$61K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

610

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

74.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.68%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$257

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
PATHWAY FINANCIAL ADVISORS, LLC10+ years Service code 28 · EIN 20-0140604 110 MAIN STREET, #401 · BURLINGTON, VT 05401	Investment Management	$86,821
NEWPORT GROUP, INC.10+ years Filed as: THE NEWPORT GROUP, INC. Service code 15 · EIN 27-2037969 13925 BALLANTYNE CORPORATE PLAZA · CHARLOTTE, NC 28277	Recordkeeping	$69,735

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$157K

$232 / participant

Recordkeeping$70K44.5%
Investment mgmt$87K55.5%

% of EOY assets

0.422%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCSOLEY MCCOY & CO
Auditor EIN: 030327374
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,843

$90,064-32.4%

$100,392-39.4%

$77,736-21.7%

Participation rate

74.4%

81.3%-6.9pp

81.5%-7.1pp

70.6%+3.8pp

Annual return

14.68%

20.61%-5.9pp

49.45%-34.8pp

31.26%-16.6pp

Employer contribution / active EE

$3,043-100.0%

$3,941-100.0%

$2,728-100.0%

Participant deferral / active EE

$3,207

$8,282-61.3%

$8,090-60.4%

$4,651-31.0%

Admin fee / account holder

$257

$172+49.2%

$7,904-96.8%

$433-40.8%

Provider

Service type

Compensation

PATHWAY FINANCIAL ADVISORS, LLC10+ years

Service code 28 · EIN 20-0140604

110 MAIN STREET, #401 · BURLINGTON, VT 05401

Investment Management

$86,821

NEWPORT GROUP, INC.10+ years

Filed as: THE NEWPORT GROUP, INC.

Service code 15 · EIN 27-2037969

13925 BALLANTYNE CORPORATE PLAZA · CHARLOTTE, NC 28277

Recordkeeping

$69,735

VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion