Plan Ledger DOL Form 5500 · updated monthly

Varo Money, Inc.401(k)

VARO RETIREMENT PLAN · SAN FRANCISCO, CA · plan year 2024

Reported admin expense ratio · 2024
0.40%

Varo Money, Inc. reported $84,026 in plan administrative expenses for 2024: 0.40% of average plan assets, above the peer median. 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 fell from 0.46% to 0.40%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is the 3,220th-largest of 9,483 plans among California employers on file, and 2,777th of 4,798 in finance & insurance. active participation has shrunk from 568 to 392 since 2022.

Plan summary
Net assets, end of year$23,738,746
Participants with balances535
Active participants392
Employer contributions—
Employee contributions$4,561,107
Employer contribution per active participant—
Average account balance$44,371
Benefits paid to participants$3,296,934
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$23.7M · 535 accts
2023$18.4M · 556 accts
2022$12.8M · 672 accts
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$74,186
Investment management$9,840
Total administrative$84,026
What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20242
SAGEVIEW ADVISORY GROUP, LLC · Investment management$9,841

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024$84,026 · 0.40%
2023$74,629 · 0.48%
2022$53,914 · 0.46%
Same employer
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Century Housing Corporation CA$24.7M · 0.14%
Research Affiliates, LLC CA$24.5M · 0.06%
Jtc USA Holdings Inc CA$24.3M · 0.39%
Intercare Holdings, Inc. CA$23.5M · 0.40%
Open Bank CA$23.2M · 0.25%
Sunwest Bank CA$22.9M · 0.64%

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Source: U.S. Department of Labor, Form 5500 series, EIN 475457481 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.