How much does Varney, Inc. contribute to its ESOP?

In 2024, employer contributions to the Varney, Inc. plan averaged $4,106 per active participant, above the $1,313 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Varney, Inc. 401(k)?

The average participant account balance was $44,440 for plan year 2024, based on 250 accounts.

Varney, Inc.ESOP

Name: Varney, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

VARNEY, INC EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · ROANOKE, VA · plan year 2024

Employer contribution per participant · 2024

$4,106

Varney, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $11,110,024 across 250 participant accounts, with employer contributions averaging $4,106 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other construction employers. By assets it is among the smaller plans on file in Virginia (1,388th of 2,266), and 2,939th of 5,337 in construction.

Plan summary
Net assets, end of year$11,110,024
Participants with balances250
Active participants140
Employer contributions$574,770
Employee contributions—
Employer contribution per active participant$4,106
Average account balance$44,440
Benefits paid to participants$574,948
Plan auditUnmodified (clean) audit opinion
AuditorBROWN, EDWARDS & COMPANY, LLP

Plan history3

Yearassets · accounts · employer contribution

2024$11.1M · 250 accts · $575K emplr

2023$7.9M · 241 accts · $482K emplr

2022$6.2M · 227 accts · $414K emplr

Employer contributions to the Varney, Inc. plan · 2024

Employer contribution per active participant$4,106

Median for plans this size$1,313

2024$4,106 per active participant

2023$3,496 per active participant

2022$3,136 per active participant

Varney, Inc.'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.

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

All plans at this employer2

VARNEY, INC. 401(K) & PROFIT SHARING PLAN401(k)

VARNEY, INC EMPLOYEE STOCK OWNERSHIP PLAN AND TRUSTESOP

Same employer

Varney, Inc.'s health & benefits plan: carriers, premiums & broker pay

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Source: U.S. Department of Labor, Form 5500 series, EIN 540791615 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.