Plan Snapshot
- Plan Sponsor: Varo Money, INC.
- Sponsor EIN: 475457481
- Sponsor Address: 555 MONTGOMERY ST. 11TH FLOOR, SAN FRANCISCO, CA, 94104
- Plan Type: 401(k)
- Total Participants: 392
- Total Assets: $23.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 392 | $23.7M | $0 | $4.6M |
| 2023 | 416 | $18.4M | $0 | $4.7M |
| 2022 | 568 | $12.8M | $0 | $5.1M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INS CO OF AMERICA | RECORDKEEPER | $74,186 | — | $74,186 |
| SAGEVIEW ADVISORY GROUP, LLC | INVESTMENT ADVISOR | $9,841 | — | $9,841 |
| BAKER TILLY US, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER TILLY US, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $84,027
- Estimated Expense Ratio: 0.354% 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 | $84,026 | $9,840 | $74,186 | — | — |
| 2023 | $74,629 | — | — | — | — |
| 2022 | $53,914 | $5,754 | $48,160 | — | — |