Virtual Business Office Associates, Inc 401(k) Review & Grade
Virtual Business Office Associates, Inc. 401(k) Plan
Columbia, SCAdministrative, Support & Staffing Services724 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$253Employer $ per active participant
$1,245Employee $ saved per active participant
2.66%Direct admin cost, % of plan assets
$3.7MNet plan assets, end of year
$9,270Average balance per account
Score breakdown
- Employer generosity15.9 / 5032th percentile for employer $ per participant
- Low cost0.2 / 251th percentile for low admin cost vs. same-size plans
- Employee saving5.8 / 1538th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 1th |
| Employee saving | 38th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,522 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
- Virtual Business Office Associates put in about $253 per active participant, below the typical peer ($712). 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 (2.66% 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 | $183,437 |
| Participant (employee) contributions | $902,151 |
| Other contributions (incl. rollovers in) | $293,435 |
| Administrative expenses paid from the plan | $82,704 |
| Contract administrator fees | $58,332 |
| Investment advisory & management fees | $2,834 |
| Other admin expenses | $4,251 |
| Benefits paid out | $402,117 |
| Net assets, start / end of year | $2.5M / $3.7M |
| Active participants, start / end of year | 720 / 729 |
| Participants with account balances | 404 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bauknight Pietras & Stormer, PA |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $58,332 reported compensation |
| Bauknight Pietras & Stor | $17,287 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $7,094 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009120537NAL0003550195001, received 2025-10-09, EIN 20-3099659, plan #101, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.