Blue Ridge Bankshares 401(k) match, vesting and fees
What Blue Ridge Bankshares' 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Alerus Financial | Schedule C ↗ |
| Independent auditor | Elliott Davis (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 108 defined-contribution plans in management of companies and enterprises with 500 to 999 participants.
| Blue Ridge Bankshares: employer contribution per participant | $3,246 | |
| Peer median | $2,042 |
| Blue Ridge Bankshares: average balance | $46,750 | |
| Peer median | $78,282 |
| Blue Ridge Bankshares: admin expenses ÷ assets | 0.45% | |
| Peer median | 0.22% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $20.4M at the end of plan year 2021 to $26.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 587 | $26.9M | $1.9M | $3,246 | 0.45% | Not published | Form 5500 ↗ |
| 2023 | 651 | $23.6M | $2M | $3,079 | 0.38% | Not published | Form 5500 ↗ |
| 2022 | 633 | $19.8M | $1.9M | $3,093 | 0.37% | Not published | Form 5500 ↗ |
| 2021 | 623 | $20.4M | $673K | $1,142 | 0.42% | Not published | Form 5500 ↗ |
Other Blue Ridge Bankshares plans (4)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Blue Ridge Bankshares, Inc. Employee Stock Ownership Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Elliott Davis (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Bay Banks of Virginia, Inc. 401(k) Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | ADP, Inc. | Schedule C ↗ |
| Independent auditor | Elliott Davis, LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Terminated (final filing) | Form 5500 ↗ |
Bay Banks of Virginia, Inc. Employee Stock Ownership Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Elliott Davis LLC (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Terminated (final filing) | Form 5500 ↗ |
Sba Cash Balance Pension Plan for Bay Banks of Virginia, Inc.
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Plan type and status | Pension (defined benefit) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Blue Ridge Bankshares match 401(k) contributions?
The match terms for the Blue Ridge Bankshares, Inc. 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $1.9M in employer contributions, about $3,246 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Blue Ridge Bankshares 401(k) match vested?
The vesting schedule for the Blue Ridge Bankshares, Inc. 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Blue Ridge Bankshares 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Alerus Financial. The plan administrator is Blue Ridge Bankshares, Inc..
I left Blue Ridge Bankshares. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Blue Ridge Bankshares, Inc., (888) 331-6521) or the recordkeeper, Alerus Financial. The Blue Ridge Bankshares old 401(k) page lists the contacts from every plan filing. Find an old Blue Ridge Bankshares 401(k)
Data from the public Form 5500 annual reports Blue Ridge Bankshares filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Blue Ridge Bankshares. Not financial advice. Report a correction · Methodology