Retirement plan

VEITS GROUP LLC 401(K) PLAN

Name: VEITS GROUP LLC - VEITS GROUP LLC 401(K) PLAN (2020) Form 5500
Creator: VEITS GROUP LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VEITS GROUP LLC 401(K) PLAN, VEITS GROUP LLC

VEITS GROUP LLCEIN 38-3659697Plan #001PY 2020

7610 OLENTANGY RIVER ROAD, SUITE 200 - COLUMBUS, OH 43235614-467-5414veitsgroup.comLinkedIn11-50 employeesinformation technology and services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.7M

+17.6% from 2019

Total participants

0.0% from 2019

Average account balance

$193,297

+17.6% from 2019

Annual return

11.49%

-8.75 pp from 2019

Benchmarks

See 120,737 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,737 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.43M

Not enough data

1 years with asset history on file

Average account balance

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

$347K

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.

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.

233.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$83K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+16.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3132

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$15K

$5131 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.885%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$193,297

$165,399+16.9%

$149,745+29.1%

$158,982+21.6%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

11.49%

348.34%-336.8pp

276.72%-265.2pp

302.99%-291.5pp

Employer contribution / active EE

$2,582

$5,105-49.4%

$4,646-44.4%

$4,763-45.8%

Participant deferral / active EE

$27,539

$7,183+283.4%

$6,843+302.4%

$5,983+360.3%

Admin fee / account holder

$1,710

$10,811-84.2%

$9,312-81.6%

$11,252-84.8%

VEITS GROUP LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VEITS GROUP LLC 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