Plan Snapshot
- Plan Sponsor: Veritex Community Bank
- Sponsor EIN: 760752296
- Sponsor Address: 8214 WESTCHESTER DRIVE, SUITE 400, DALLAS, TX, 75225
- Plan Type: 401(k)
- Total Participants: 869
- Total Assets: $84.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 869 | $84.0M | $5.4M | $7.5M |
| 2023 | 821 | $65.7M | $4.9M | $6.7M |
| 2022 | 770 | $49.7M | $4.7M | $6.4M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $17,121 | — | $17,121 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $16,442 | — | $16,442 |
| WEAVER AND TIDWELL LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- STRATEGIC ADVISORS, INC. — ADVISOR
- WEAVER AND TIDWELL LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $33,563
- Estimated Expense Ratio: 0.040% 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 | $33,563 | $16,442 | — | — | — |
| 2023 | $65,430 | $12,442 | $600 | — | — |
| 2022 | $43,505 | $7,281 | — | — | — |