Retirement plan

VELOCITY GLOBAL 401(K) RETIREMENT PLAN

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

VELOCITY GLOBAL, LLCEIN 46-1915233Plan #001PY 2020

3858 WALNUT STREET, SUITE 107 - DENVER, CO 802053348303-309-2984velocityglobal.comLinkedIn501-1000 employeescomputer software

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+136.5% from 2019

Total participants

203

+55.0% from 2019

Average account balance

$25,226

+69.6% from 2019

Annual return

52.75%

+10.68 pp from 2019

Benchmarks

See 1,065 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,065 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.90M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

461

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.

81.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+28.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$157

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
PENSIONMARK FINANCIAL GROUP LLC1 year Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 27 · EIN 61-1758632	Advisory (Plan)	$8,966
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$1,218

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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$1K

$6 / participant

Contract admin$1K100.0%

% of EOY assets

0.033%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PLANTE MORAN
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,226

$43,133-41.5%

$89,414-71.8%

$73,493-65.7%

Participation rate

69.1%

55.0%+14.2pp

68.0%+1.2pp

70.7%-1.5pp

Annual return

52.75%

135.66%-82.9pp

245.50%-192.8pp

28.51%+24.2pp

Employer contribution / active EE

$2,420

$1,438+68.3%

$2,586-6.4%

$2,270+6.6%

Participant deferral / active EE

$5,027

$2,445+105.7%

$3,890+29.2%

$3,740+34.4%

Admin fee / account holder

$444-98.1%

$4,883-99.8%

$513-98.4%

Provider

Service type

Compensation

PENSIONMARK FINANCIAL GROUP LLC1 year

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 27 · EIN 61-1758632

Advisory (Plan)

$8,966

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$1,218

VELOCITY GLOBAL 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VELOCITY GLOBAL 401(K) RETIREMENT 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