Plan Snapshot
- Plan Sponsor: Velocity Credit Union
- Sponsor EIN: 741200165
- Sponsor Address: 4515 SETON CENTER PARKWAY, AUSTIN, TX, 78759
- Plan Type: 401(k)
- Total Participants: 203
- Total Assets: $18.4M
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 | 203 | $18.4M | $440,730 | $822,169 |
| 2023 | 206 | $16.9M | $389,976 | $774,472 |
| 2022 | 201 | $13.5M | $370,230 | $713,429 |
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 |
|---|---|---|---|---|
| STANCORP FINANCIAL GROUP | NONE | $29,988 | — | $29,988 |
| GALLAGHER FIDUCIARY ADVISORS, LLC | NONE | $24,778 | — | $24,778 |
| CLIFTON LARSON ALLEN, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STANCORP FINANCIAL GROUP — NONE
- GALLAGHER FIDUCIARY ADVISORS, LLC — NONE
- CLIFTON LARSON ALLEN, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $54,766
- Estimated Expense Ratio: 0.298% 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 | $30,641 | $24,778 | $5,863 | — | — |
| 2023 | $15,710 | $11,259 | $4,451 | — | — |
| 2022 | $3,983 | — | $3,983 | — | — |