Plan Ledger DOL Form 5500 · updated monthly

Virginia Farm Bureau401(k)

VIRGINIA FARM BUREAU COMPANIES EMPLOYEES' 401(K) PLAN · RICHMOND, VA · plan year 2024

Employer contribution per participant · 2024
$3,544

Virginia Farm Bureau'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 $228,957,577 across 1,095 participant accounts, with employer contributions averaging $3,544 per active participant. See methodology for what Form 5500 does and doesn't capture.

Across the 1 year on file its reported administrative ratio fell from 0.05% to 0.02%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other finance & insurance employers. By assets it is the 143rd-largest of 2,266 plans among Virginia employers on file, and the 534th of 4,798 in finance & insurance. In 2024, employees put in $1.67 for every $1.00 the employer contributed; active participation has grown from 890 to 1,004 since 2022.

Plan summary
Net assets, end of year$228,957,577
Participants with balances1,095
Active participants1,004
Employer contributions$3,558,477
Employee contributions$5,929,835
Employer contribution per active participant$3,544
Average account balance$209,094
Benefits paid to participants$14,060,600
Plan auditUnmodified (clean) audit opinion
AuditorKEITER
Plan history3
Yearassets · accounts · employer contribution
2024$229.0M · 1,095 accts · $3.6M emplr
2023$206.0M · 1,051 accts · $3.1M emplr
2022$195.0M · 1,024 accts · $3.0M emplr
Administrative expenses, itemized · 2024
Investment management$100,205
Total administrative-$53,508
The Virginia Farm Bureau 401(k) match · 2024
Employer contribution per active participant$3,544
Median for plans this size$3,635
2024$3,544 per active participant
2023$3,418 per active participant
2022$3,417 per active participant

Virginia Farm Bureau's 2024 employer contribution ran below the $3,635 median for plans its size. 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.

Service providers · 20243
BENEFIT FIDUCIARY GROUP LLC · Investment advisory (plan)$85,940
STRATEGIC ADVISORS, INC. · Investment advisory (plan)$14,264
FIDELITY INVESTMENTS INSTITUTIONAL · Loan processingindirect comp

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

Administrative cost history3
2024Not separately reported
2023$47,291 · 0.02%
2022$113,898 · 0.05%
Same employer
Similar plansFinance & Insurance · Virginia
Townebank VA$391.6M · 0.10%
Evolent Health LLC VA$289.2M · 0.22%
James a. Scott & Son, Inc. VA$228.4M · 0.02%

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Source: U.S. Department of Labor, Form 5500 series, EIN 540502500 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.