# Varo Money, INC. 401(k) Plan
Source: https://planprovider.pro/companies/varo-money-inc-401k-plan

> Varo Money, INC.'s 401(k) plan: 392 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

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

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