VM Consolidated 401(k) match, vesting and fees
What VM Consolidated's 401(k) plan says about matching contributions
The Company contributes safe harbor matching contributions of 100% of the first 4% of base compensation that a participant contributes to the Plan and 50% of the next 2%. The Plan amended the safe harbor matching contribution equal to 100% of elective deferrals that do not exceed 4% of compensation, effective January 1, 2025.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 30 ↗ |
| Match vesting | Vesting – Participants are immediately vested in their own contributions and safe harbor contributions, plus actual earnings thereon. Prior employer matching and nonelective contributions for participants who transferred to this Plan from the Redflex Traffic Systems Inc. 401(k) Profit Sharing Plan & Trust maintain the 5-year vesting period. Prior employer matching and nonelective contributions for participants who transferred to this Plan from the T2 Systems 401(k) Plan were made immediately eligible. | Audit report, p. 30 ↗ |
| Loans | Notes Receivable from Participant – Subject to certain limitations in the plan document, participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant’s account and bear interest at rates which are commensurate with local prevailing rates as determined by the Plan administrator. Principal and interest is paid ratably through payroll deductions. As of December 31, 2024, participant loans have interest rates ranging from 3.25% to 10.50%. | Audit report, p. 30 ↗ |
| Recordkeeper | Empower Annuity Insurance Company O | Schedule C ↗ |
| Independent auditor | Metz Cpa, PLLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 235 defined-contribution plans in information with 1,000 to 4,999 participants.
| VM Consolidated: employer contribution per participant | $3,268 | |
| Peer median | $2,212 |
| VM Consolidated: average balance | $61,160 | |
| Peer median | $99,173 |
| VM Consolidated: admin expenses ÷ assets | 0.38% | |
| Peer median | 0.09% |
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 $50.2M at the end of plan year 2021 to $96M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,615 | $96M | $5.1M | $3,268 | 0.38% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 1,526 | $78.4M | $3.7M | $2,541 | 0.45% | Not published | Form 5500 ↗ |
| 2022 | 1,088 | $53.3M | $2.5M | $2,266 | 0.44% | Not published | Form 5500 ↗ |
| 2021 | 964 | $50.2M | $1.8M | $1,953 | 0.38% | Not published | Form 5500 ↗ |
Common questions
Does VM Consolidated match 401(k) contributions?
The audit report attached to the Verra Mobility 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Company contributes safe harbor matching contributions of 100% of the first 4% of base compensation that a participant contributes to the Plan and 50% of the next 2%. The Plan amended the safe harbor matching contribution equal to 100% of elective deferrals that do not exceed 4% of compensation, effective January 1, 2025.” Plan terms may have changed; check your current Summary Plan Description.
When is the VM Consolidated 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Vesting – Participants are immediately vested in their own contributions and safe harbor contributions, plus actual earnings thereon. Prior employer matching and nonelective contributions for participants who transferred to this Plan from the Redflex Traffic Systems Inc. 401(k) Profit Sharing Plan & Trust maintain the 5-year vesting period. Prior employer matching and nonelective contributions for participants who transferred to this Plan from the T2 Systems 401(k) Plan were made immediately eligible.”
Who manages the VM Consolidated 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company O. The plan administrator is Vm Consolidated, Inc..
I left VM Consolidated. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Vm Consolidated, Inc., (513) 673-3854) or the recordkeeper, Empower Annuity Insurance Company O. The VM Consolidated old 401(k) page lists the contacts from every plan filing. Find an old VM Consolidated 401(k)
Data from the public Form 5500 annual reports VM Consolidated 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 VM Consolidated. Not financial advice. Report a correction · Methodology