Retirement plan

VELOCITY SOLUTIONS LLC 401K PLAN

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

VELOCITY SOLUTIONS LLCEIN 56-1928548Plan #001PY 2022

P O BOX 460939 - FORT LAUDERDALE, FL 33346954-847-5800LinkedIn11-50 employeesmarketing and advertising

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$12.4M

-8.0% from 2021

Total participants

121

-10.4% from 2021

Average account balance

$111,728

-10.4% from 2021

Annual return

-18.49%

-35.65 pp from 2021

Benchmarks

See 28,001 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,001 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.82M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

117

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.

81.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.90M

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

+16.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$131

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ENPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$6,658
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ENPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$719

Plan features & details

Pension benefit codes2E2F2J2K3D

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).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$7K

$86 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.059%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PBMARES LLP
Auditor EIN: 540737372
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$111,728

$82,674+35.1%

$125,381-10.9%

$68,486+63.1%

Participation rate

88.4%

75.1%+13.3pp

82.4%+6.0pp

67.9%+20.5pp

Annual return

-18.49%

-5.97%-12.5pp

572.31%-590.8pp

-7.85%-10.6pp

Employer contribution / active EE

$4,609

$3,382+36.3%

$4,815-4.3%

$2,597+77.5%

Participant deferral / active EE

$12,242

$6,111+100.3%

$7,448+64.4%

$4,028+204.0%

Admin fee / account holder

$66

$6,277-98.9%

$10,007-99.3%

$5,404-98.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ENPOWER ADVISORY GROUP LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$6,658

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ENPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$719

VELOCITY SOLUTIONS LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VELOCITY SOLUTIONS LLC 401K 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