Plan Snapshot
- Plan Sponsor: Verita Telecommunications Corporation
- Sponsor EIN: 464239538
- Sponsor Address: 47059 FIVE MILE, PLYMOUTH, MI, 481703765
- Plan Type: DC
- Total Participants: 423
- Total Assets: $8.4M
Key Plan Design Features
- Auto-Enrollment: No
- 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 | 423 | $8.4M | $504,252 | $1.1M |
| 2023 | 515 | $7.7M | $517,479 | $1.0M |
| 2022 | 368 | $4.2M | $307,121 | $624,617 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $71,552 | — | $71,552 |
| M HOLDINGS SECURITIES | INVESTMENT ADVISORY | — | $37,012 | $37,012 |
| BAKER TILLY, US LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER TILLY, US LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $108,564
- Estimated Expense Ratio: 1.297% 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 | $71,553 | — | $71,553 | — | — |
| 2023 | $53,811 | — | $53,811 | — | — |
| 2022 | $32,604 | — | $32,604 | — | — |