Veritas Management Group, LLC 401(k) Review & Grade
Center 401(k) Plan
Colorado Springs, COHealth Care & Social Assistance2,598 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$405Employer $ per active participant
$840Employee $ saved per active participant
0.89%Direct admin cost, % of plan assets
$20.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity20.4 / 5041th percentile for employer $ per participant
- Low cost1.4 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score15 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 6th |
| Employee saving | 22th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($207,309 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $11 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Veritas Management Group put in about $405 per active participant, below the typical peer ($800). 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 (0.89% of assets) are well above similar-size plans (0.12%). 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 | $1,051,985 |
| Participant (employee) contributions | $2,183,348 |
| Other contributions (incl. rollovers in) | $166,331 |
| Administrative expenses paid from the plan | $168,726 |
| Contract administrator fees | $85,727 |
| Investment advisory & management fees | $82,999 |
| Benefits paid out | $2,612,218 |
| Net assets, start / end of year | $17.5M / $20.5M |
| Active participants, start / end of year | 2,783 / 2,414 |
| Participants with account balances | 699 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Brock and Company Cpas P.C. |
Largest service providers (Schedule C)
| Stancorp Financial Group | $85,727 reported compensation |
| Creative Planning | $82,999 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015115726NAL0002365347001, received 2025-10-15, EIN 27-2876769, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.