Plan Snapshot
- Plan Sponsor: Velocitor Solutions, LLC
- Sponsor EIN: 522261775
- Sponsor Address: 851 BLAIRHILL ROAD, CHARLOTTE, NC, 28217
- Plan Type: 401(k)
- Total Participants: 237
- Total Assets: $7.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 237 | $7.1M | $147,108 | $895,986 |
| 2023 | 196 | $5.6M | $76,662 | $688,021 |
| 2022 | 164 | $4.1M | $100,270 | $447,986 |
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 |
|---|---|---|---|---|
| CHERRY BEKAERT LLP | Auditor | — | — | $0 |
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 | $66,100 | — | — | — | — |
| 2023 | $25,595 | — | $20,271 | — | — |
| 2022 | $4,280 | — | $4,280 | — | — |