Plan Snapshot
- Plan Sponsor: Convergenz, LLC
- Sponsor EIN: 522254225
- Sponsor Address: 1595 SPRING HILL ROAD, VIENNA, VA, 22182
- Plan Type: 401(k)
- Total Participants: 179
- Total Assets: $8.2M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- 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 | 179 | $8.2M | $0 | $1.2M |
| 2023 | 180 | $6.6M | $0 | $1.3M |
| 2022 | 189 | $4.8M | $340 | $1.2M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $21,470 | — | $21,470 |
| KESTRA ADVISORY SERVICES, LLC | INVESTMENT ADVISORY | $10,986 | $9 | $10,995 |
| UHY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- KESTRA ADVISORY SERVICES, LLC — INVESTMENT ADVISORY
- UHY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $32,465
- Estimated Expense Ratio: 0.397% 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 | $32,461 | $10,990 | $21,471 | — | — |
| 2023 | $28,502 | $8,189 | $20,313 | — | — |
| 2022 | $15,992 | $1,655 | $14,337 | — | — |