The Freedom Bank of Virginia401(k)
FREEDOM BANK OF VIRGINIA 401(K) PLAN · FAIRFAX, VA · plan year 2024
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
The Freedom Bank of Virginia reported $48,737 in plan administrative expenses for 2024: 0.51% of average plan assets, below the peer median. Employer contributions averaged $3,250 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.34% to 0.51%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Virginia (1,445th of 2,266), and 3,951st of 4,798 in finance & insurance. In 2024, employees put in $3.15 for every $1.00 the employer contributed; active participation has shrunk from 108 to 96 since 2022.
The Freedom Bank of Virginia's 2024 employer contribution ran above the $1,313 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 541968622 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.