Plan Snapshot
- Plan Sponsor: Avid Technology, INC.
- Sponsor EIN: 042977748
- Sponsor Address: 75 BLUE SKY DRIVE, BURLINGTON, MA, 01803
- Plan Type: 401(k)
- Total Participants: 341
- Total Assets: $241.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 341 | $241.6M | $1.4M | $5.3M |
| 2023 | 468 | $239.0M | $1.9M | $6.9M |
| 2022 | 563 | $207.1M | $1.9M | $6.8M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| CBIZ OPERATIONS, INC. | ACCOUNTANT/AUDITOR | $45,400 | — | $45,400 |
| CBIZ CPAS P.C. | Auditor | $45,400 | — | $45,400 |
| GALLAGHER BENEFIT SERVICE, INC | CONSULTANT | $22,500 | — | $22,500 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $8,555 | — | $8,555 |
| GLOBAL RETIREMENT PARTNERS, LLC | CONSULTANT | $7,500 | — | $7,500 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GALLAGHER BENEFIT SERVICE, INC — CONSULTANT
- STRATEGIC ADVISORS, INC. — ADVISOR
- GLOBAL RETIREMENT PARTNERS, LLC — CONSULTANT
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $129,355
- Estimated Expense Ratio: 0.054% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $33,608 | $8,555 | $1,500 | $45,400 | — |
| 2023 | -$8,870 | $41,838 | $300 | $1,500 | — |
| 2022 | $6 | $550 | — | — | — |