Retirement plan

VERSA NETWORKS 401(K) PLAN

Name: VERSA NETWORKS INC - VERSA NETWORKS 401(K) PLAN (2024) Form 5500
Creator: VERSA NETWORKS INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERSA NETWORKS 401(K) PLAN, VERSA NETWORKS INC

VERSA NETWORKS INCEIN 36-4741451Plan #001PY 2024

2550 GREAT AMERICA WAY, SUITE # 350, 3RD FLOOR - SANTA CLARA, CA 95054408-385-7660versa-networks.comLinkedIn501-1000 employeescomputer software

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$29.5M

+28.8% from 2023

Total participants

313

+5.4% from 2023

Average account balance

$105,610

+24.6% from 2023

Annual return

18.68%

-4.98 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

$29.47M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

279

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.

87.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+18.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$34

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
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT ADVISORS, LLC Service code 26 · EIN 02-0488491	Advisory (Participants)	$5,693
VOYA RETIREMENT INSURANCE & ANNUITY5 years Service code 26 · EIN 71-0294708	Advisory (Participants)	$3,730

Plan features & details

Pension benefit codes2E2J2F2G3D2T

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

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

$9K

$35 / participant

Investment mgmt$6K60.5%
Contract admin$3K33.2%
Other / not subdivided$6006.4%

% of EOY assets

0.032%

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: BPM LLP
Auditor EIN: 814234542
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,610

$90,064+17.3%

$100,392+5.2%

$77,736+35.9%

Participation rate

87.4%

81.3%+6.1pp

81.5%+5.9pp

70.6%+16.8pp

Annual return

18.68%

20.61%-1.9pp

49.45%-30.8pp

31.26%-12.6pp

Employer contribution / active EE

$3,043-100.0%

$3,941-100.0%

$2,728-100.0%

Participant deferral / active EE

$16,535

$8,282+99.7%

$8,090+104.4%

$4,651+255.6%

Admin fee / account holder

$34

$172-80.4%

$7,904-99.6%

$433-92.2%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT ADVISORS, LLC

Service code 26 · EIN 02-0488491

Advisory (Participants)

$5,693

VOYA RETIREMENT INSURANCE & ANNUITY5 years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$3,730

VERSA NETWORKS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VERSA NETWORKS 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