Plan Snapshot
- Plan Sponsor: Velocity Credit Union
- Sponsor EIN: 741200165
- Sponsor Address: P O BOX 1089, AUSTIN, TX, 78767
- Plan Type: DB
- Total Participants: 80
- Total Assets: $52.6M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 80 | $52.6M | $0 | $0 |
| 2023 | 88 | $47.3M | $0 | $0 |
| 2022 | 95 | $41.5M | $0 | $0 |
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 | $131,804 | — | $131,804 |
| CLIFTONLARSENALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STANCORP FINANCIAL GROUP — NONE
- CLIFTONLARSENALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $131,804
- Estimated Expense Ratio: 0.251% 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 | $91,745 | $72,175 | — | — | — |
| 2023 | $53,321 | $33,301 | — | — | — |
| 2022 | $24,060 | — | — | — | — |