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BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN 401k Plan overview

Plan NameBLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN
Plan identification number 502

BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN Benefits

401k Plan TypeWelfare Benefit
Plan Features/Benefits
  • Life insurance
  • Dental
  • Vision
  • Temporary disability (accident and sickness)
  • Long-term disability cover

401k Sponsoring company profile

VIRGINIA COMMONWEALTH BANK has sponsored the creation of one or more 401k plans.

Company Name:VIRGINIA COMMONWEALTH BANK
Employer identification number (EIN):540132730
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about VIRGINIA COMMONWEALTH BANK

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 2008-03-19
Company Identification Number: 0691835
Legal Registered Office Address: 1965 WAKEFIELD ST

PETERSBURG
United States of America (USA)
23805

More information about VIRGINIA COMMONWEALTH BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
5022022-01-01JOSHUA CASAVILCA-SERRANO2023-11-21

Plan Statistics for BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN

401k plan membership statisitcs for BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN

Measure Date Value
2022: BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01325
Total number of active participants reported on line 7a of the Form 55002022-01-01486
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-010
Total of all active and inactive participants2022-01-01486

Form 5500 Responses for BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN

2022: BLUE RIDGE BANKSHARES, INC HEALTH BENEFIT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01First time form 5500 has been submittedYes
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – General assets of the sponsorYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement – General assets of the sponsorYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number1151804
Policy instance 1
Insurance contract or identification number1151804
Number of Individuals Covered871
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $84,140
Total amount of fees paid to insurance companyUSD $0
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitYes
Vision Insurance Welfare BenefitYes
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitYes
Long Term Disability Insurance Welfare BenefitYes
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Welfare Benefit Premiums Paid to CarrierUSD $847,754
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $52,850
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerN/A
Insurance broker organization code?3

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