Janco Fs2 LLC & Janco Fs3 LLC DBA Velociti Services 401(k) Review & Grade
Velociti Services 401(k) Plan
Atlanta, GAAdministrative, Support & Staffing Services4,231 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$70Employer $ per active participant
$161Employee $ saved per active participant
0.62%Direct admin cost, % of plan assets
$3.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity15.3 / 5031th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 2,500–9,999 active participants (125 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 9th |
| Employee saving | 13th |
| Peers that auto-enroll | 22% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Janco Fs2 LLC & Janco Fs3 LLC DBA Velociti Services put in about $70 per active participant, below the typical peer ($342). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.62% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $297,366 |
| Participant (employee) contributions | $680,055 |
| Other contributions (incl. rollovers in) | $194,229 |
| Administrative expenses paid from the plan | $17,196 |
| Contract administrator fees | $17,196 |
| Benefits paid out | $1,003,630 |
| Net assets, start / end of year | $2.6M / $3.0M |
| Active participants, start / end of year | 3,194 / 5,268 |
| Participants with account balances | 177 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $17,196 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251107093146NAL0000499281001, received 2025-11-07, EIN 87-2133844, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.