Retirement plan

VARI CORPORATION 401(K) PLAN

Name: VARI CORPORATION - VARI CORPORATION 401(K) PLAN (2022) Form 5500
Creator: VARI CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VARI CORPORATION 401(K) PLAN, VARI CORPORATION

VARI CORPORATIONEIN 23-2106519Plan #002PY 2022

390 OLD READING PIKE - POTTSTOWN, PA 19464610-970-2800

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$13.5M

-15.1% from 2021

Total participants

206

+1.0% from 2021

Average account balance

$66,633

-16.4% from 2021

Annual return

-15.92%

-28.26 pp from 2021

Benchmarks

See 4,068 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,068 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.19M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

213

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.

97.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$721K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$250

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 3 by compensation

Provider	Service type	Compensation
KESTRA INVESTMENT SERVICES LLC6 years Filed as: KESTRA INVESTMENT SERVICES Service code 55 5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735	Other Commissions	$40,195
NATIONWIDE8+ years Filed as: NATIONWIDE LIFE INSURANCE CO Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$21,067
TYCOR BENEFIT ADMINISTRATORS, INC.8+ years Service code 14 850 CASSATT ROAD · BERWYN, PA 19312	Plan Administrator	$8,079

Plan features & details

Pension benefit codes2E2F2G2J3D3H2T

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$46K

$283 / participant

Investment mgmt$46K100.0%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HERBEIN & COMPANY, INC.
Auditor EIN: 232415973
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,633

$65,437+1.8%

$86,698-23.1%

$66,949-0.5%

Participation rate

97.5%

75.5%+22.1pp

76.6%+20.9pp

69.8%+27.7pp

Annual return

-15.92%

-10.91%-5.0pp

35.96%-51.9pp

1.57%-17.5pp

Employer contribution / active EE

$1,357

$2,154-37.0%

$2,837-52.2%

$2,545-46.7%

Participant deferral / active EE

$3,321

$4,102-19.0%

$4,656-28.7%

$4,239-21.7%

Admin fee / account holder

$227

$642-64.6%

$7,492-97.0%

$594-61.7%

Provider

Service type

Compensation

KESTRA INVESTMENT SERVICES LLC6 years

Filed as: KESTRA INVESTMENT SERVICES

Service code 55

5707 SOUTHWEST PARKWAY · AUSTIN, TX 78735

Other Commissions

$40,195

NATIONWIDE8+ years

Filed as: NATIONWIDE LIFE INSURANCE CO

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$21,067

TYCOR BENEFIT ADMINISTRATORS, INC.8+ years

Service code 14

850 CASSATT ROAD · BERWYN, PA 19312

Plan Administrator

$8,079

VARI CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VARI CORPORATION 401(K) 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