Plan Snapshot
- Plan Sponsor: Verescence
- Sponsor EIN: 232812719
- Sponsor Address: 9141 TECHNOLOGY DRIVE NE, COVINGTON, GA, 30014
- Plan Type: 401(k)
- Total Participants: 444
- Total Assets: $20.3M
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 | 444 | $20.3M | $640,542 | $1.2M |
| 2023 | 362 | $18.5M | $719,038 | $1.2M |
| 2022 | 345 | $15.3M | $530,745 | $942,113 |
| 2021 | 369 | $17.4M | $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 |
|---|---|---|---|---|
| LPL FINANCIAL LLC | Investment Advisor | $40,997 | — | $40,997 |
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $10,656 | — | $10,656 |
| STRATEGIC ADVISORS, INC. | Investment Advisor | $5,377 | — | $5,377 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LPL FINANCIAL LLC — Investment Advisor
- FIDELITY INVESTMENTS INSTITUTIONAL — Recordkeeper
- STRATEGIC ADVISORS, INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,030
- Estimated Expense Ratio: 0.281% 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 | $57,029 | $46,373 | — | — | — |
| 2023 | $46,733 | $36,933 | — | — | — |
| 2022 | $45,269 | $966 | — | — | — |
| 2021 | $45,095 | $479 | — | — | — |