Plan Snapshot
- Plan Sponsor: Veriforce, LLC
- Sponsor EIN: 850478014
- Sponsor Address: 1575 SAWDUST ROAD, THE WOODLANDS, TX, 77380
- Plan Type: 401(k)
- Total Participants: 256
- Total Assets: $16.2M
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 | 256 | $16.2M | $851,988 | $1.7M |
| 2023 | 252 | $12.6M | $771,233 | $1.5M |
| 2022 | 221 | $9.4M | $734,068 | $1.3M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $33,479 | — | $33,479 |
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $21,409 | — | $21,409 |
| NOVA 401K ASSOCIATES | Other Service Provider | $10,453 | — | $10,453 |
| CERITY PARTNERS RETIREMENT PLAN AD | Investment Advisor | $6,250 | — | $6,250 |
| HOGANTAYLOR LLP | Auditor | $5,000 | — | $5,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $76,591
- Estimated Expense Ratio: 0.472% 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 | $69,385 | $69,385 | — | — | — |
| 2023 | $40,904 | $40,904 | — | — | — |
| 2022 | $40,740 | $40,740 | — | — | — |