# Medtech 7 Holdings, LLC Dba Velocity Medtech 401(k) Plan
Source: https://planprovider.pro/companies/medtech-7-holdings-llc-dba-velocity-medtech-401k-plan

> Medtech 7 Holdings, LLC Dba Velocity Medtech's 401(k) plan: 175 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/cliftonlarsonallen-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|—|—|—|

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