Plan Snapshot
- Plan Sponsor: Medtech 7 Holdings, LLC Dba Velocity Medtech
- Sponsor EIN: 814589293
- Sponsor Address: 11 JACKSON ROAD, TOTOWA, NJ, 07512
- Plan Type: 401(k)
- Total Participants: 175
- Total Assets: $6.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 175 | $6.2M | $309,807 | $589,822 |
| 2023 | 136 | $6.0M | $294,382 | $606,970 |
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 |
|---|---|---|---|---|
| CLIFTON LARSON ALLEN, LLP | Auditor | $18,900 | — | $18,900 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTON LARSON ALLEN, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $18,900
- Estimated Expense Ratio: 0.303% 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 | $61,324 | $23,070 | — | $18,900 | — |
| 2023 | $34,347 | $18,077 | — | — | — |