Versability Resources, Inc. 401(k) Review & Grade
Versability Resources, Inc. 401k Plan
Hampton, VAHealth Care & Social Assistance680 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,167Employer $ per active participant
$1,324Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$18.8MNet plan assets, end of year
$30,477Average balance per account
Score breakdown
- Employer generosity36.6 / 5073th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 14th |
| Employee saving | 30th |
| Peers that auto-enroll | 36% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($51,421 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Versability Resources put in about $2,167 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.67% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,473,475 |
| Participant (employee) contributions | $900,177 |
| Other contributions (incl. rollovers in) | $118,083 |
| Administrative expenses paid from the plan | $118,457 |
| Contract administrator fees | $115,307 |
| Other admin expenses | $3,150 |
| Benefits paid out | $2,206,183 |
| Net assets, start / end of year | $16.5M / $18.8M |
| Active participants, start / end of year | 678 / 682 |
| Participants with account balances | 618 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Charles W. Snader, P.C. |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $118,457 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013161628NAL0000821731001, received 2025-10-13, EIN 54-0802199, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.