Plan Snapshot
- Plan Sponsor: Velocity Clinical Research, INC
- Sponsor EIN: 823171064
- Sponsor Address: 807 EAST MAIN STREET, DURHAM, NC, 27701
- Plan Type: 401(k)
- Total Participants: 1,016
- Total Assets: $35.6M
Key Plan Design Features
- Auto-Enrollment: No
- 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 | 1,016 | $35.6M | $3.2M | $6.0M |
| 2023 | 1,282 | $26.8M | $2.8M | $5.5M |
| 2022 | 769 | $9.6M | $1.1M | $2.1M |
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 |
|---|---|---|---|---|
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — 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 | $174,829 | $65,016 | $109,813 | — | — |
| 2023 | $106,593 | $41,572 | $65,021 | — | — |
| 2022 | $41,849 | $16,940 | $24,909 | — | — |