Plan Snapshot
- Plan Sponsor: Velir Studios, LLC
- Sponsor EIN: 043526955
- Sponsor Address: 212 ELM STREET, SOMERVILLE, MA, 02144
- Plan Type: 401(k)
- Total Participants: 209
- Total Assets: $20.8M
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 | 209 | $20.8M | $897,201 | $2.3M |
| 2023 | 154 | $15.8M | $653,637 | $1.5M |
| 2022 | 115 | $11.2M | $495,809 | $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 |
|---|---|---|---|---|
| WITHUMSMITH AND BROWN, PC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WITHUMSMITH AND BROWN, PC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $42,377 | $25,000 | — | — | — |
| 2023 | $38,147 | $20,833 | — | — | — |
| 2022 | $39,030 | — | — | — | — |