Retirement plan

VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN

Name: VERMONT INFORMATION PROCESSING, INC. - VERMONT INFORMATION PROCESSING, INC. PROFIT SHARING PLAN (2022) 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 2022

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

Other plans on this EIN

1 filing

#002Retirement-$400.9M assets

Prospect flagsLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$21.1M

-0.8% from 2021

Total participants

703

+22.7% from 2021

Average account balance

$39,143

-17.7% from 2021

Annual return

-2.43%

-16.31 pp from 2021

Benchmarks

See 605 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort605 peers

Snapshot2022

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
NEWPORT GROUP, INC.8+ years Filed as: THE NEWPORT GROUP, INC. Service code 15 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLAZA · CHARLOTTE, NC 28277	Recordkeeping	$84,058
PATHWAY FINANCIAL ADVISORS, LLC8+ years Service code 28 · EIN 20-0140604 110 MAIN STREET, #401 · BURLINGTON, VT 05401	Investment Management	$64,328

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

$150K

$243 / participant

Investment mgmt$64K42.8%
Contract admin$86K57.2%

% of EOY assets

0.711%

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

$39,143

$64,612-39.4%

$86,438-54.7%

$64,819-39.6%

Participation rate

73.6%

81.5%-7.8pp

80.3%-6.7pp

71.5%+2.2pp

Annual return

-2.43%

0.66%-3.1pp

4397.19%-4399.6pp

32.84%-35.3pp

Employer contribution / active EE

$2,744-100.0%

$3,769-100.0%

$2,507-100.0%

Participant deferral / active EE

$2,512

$7,497-66.5%

$6,952-63.9%

$4,311-41.7%

Admin fee / account holder

$278

$169+64.6%

$6,733-95.9%

$188+48.2%

Provider

Service type

Compensation

NEWPORT GROUP, INC.8+ years

Filed as: THE NEWPORT GROUP, INC.

Service code 15 · EIN 62-1868111

13925 BALLANTYNE CORPORATE PLAZA · CHARLOTTE, NC 28277

Recordkeeping

$84,058

PATHWAY FINANCIAL ADVISORS, LLC8+ years

Service code 28 · EIN 20-0140604

110 MAIN STREET, #401 · BURLINGTON, VT 05401

Investment Management

$64,328

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