Retirement plan

VERICAST CORP. 401(K) PLAN

Name: VERICAST CORP. - VERICAST CORP. 401(K) PLAN (2023) Form 5500
Creator: VERICAST CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERICAST CORP. 401(K) PLAN, VERICAST CORP.

VERICAST CORP.EIN 58-0278260Plan #003PY 2023

15955 LA CANTERA PARKWAY - SAN ANTONIO, TX 78256210-694-1484LinkedIn5001-10000 employeesfinancial services

Prospect flagsLow returnsLow employer contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed August 4, 2006 (most recent of 5 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$1073.9M

+7.2% from 2022

Total participants

7,908

-22.7% from 2022

Average account balance

$136,461

+18.1% from 2022

Annual return

16.92%

+32.76 pp from 2022

Benchmarks

See 175 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort175 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$893.30M

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

5,129

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.21M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$90

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085	Recordkeeping	$440,370
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICES, INC Service code 27 · EIN 13-2638166	Advisory (Plan)	$100,000
ERNST & YOUNG LLP9+ years Filed as: ERNST & YOUNG Service code 10 · EIN 34-6565596	Accounting	$46,000
HAYNES AND BOONE, LLP3 years Filed as: HAYNES AND BOONE LLP Service code 50 · EIN 75-1312888	Direct Payment	$13,379

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$600K

$139 / participant

Recordkeeping$440K73.4%
Investment mgmt$100K16.7%
Legal$13K2.2%
Other / not subdivided$46K7.7%

% of EOY assets

0.056%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ERNST & YOUNG
Auditor EIN: 346565596
Audit fees: $46,000
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$136,461

$103,918+31.3%

$94,646+44.2%

$80,160+70.2%

Participation rate

99.1%

85.8%+13.3pp

80.8%+18.3pp

72.9%+26.2pp

Annual return

16.92%

27.77%-10.9pp

156.71%-139.8pp

40.38%-23.5pp

Employer contribution / active EE

$340

$3,539-90.4%

$3,672-90.7%

$2,978-88.6%

Participant deferral / active EE

$6,091

$9,528-36.1%

$7,418-17.9%

$5,017+21.4%

Admin fee / account holder

$76

$96-21.0%

$7,231-98.9%

$145-47.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 15 · EIN 13-5674085

Recordkeeping

$440,370

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICES, INC

Service code 27 · EIN 13-2638166

Advisory (Plan)

$100,000

ERNST & YOUNG LLP9+ years

Filed as: ERNST & YOUNG

Service code 10 · EIN 34-6565596

Accounting

$46,000

HAYNES AND BOONE, LLP3 years

Filed as: HAYNES AND BOONE LLP

Service code 50 · EIN 75-1312888

Direct Payment

$13,379

VERICAST CORP. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VERICAST CORP. 401(K) PLAN

Top hat statement on fileNQDC

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