Retirement plan

FORMAX 401(K) PENSION PLAN AND TRUST

Name: FORMAX, LLC - FORMAX 401(K) PENSION PLAN AND TRUST (2024) Form 5500
Creator: FORMAX, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORMAX 401(K) PENSION PLAN AND TRUST, FORMAX, LLC

FORMAX, LLCEIN 02-0407657Plan #001PY 2024

1 EDUCATION WAY - DOVER, NH 038205815603-682-5300formax.comLinkedIn51-200 employeesbusiness supplies and equipment

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$15M

+17.7% from 2023

Total participants

118

-3.3% from 2023

Average account balance

$127,109

+21.7% from 2023

Annual return

21.08%

-10.46 pp from 2023

Benchmarks

See 5,426 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,426 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$15.00M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$127K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

118

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$570K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+21.08%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$216

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE1 year Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$21,221
TWELVE POINTS WEALTH MANAGEMENT LLC1 year Service code 27 · EIN 46-5061538 AKA TWELVE POINTS RETIREMENT ADVISO · CONCORD, MA 01742	Advisory (Plan)	$7,238
PLAN INTEGRITY PARTNERS, LLC1 year Filed as: PLAN INTEGRITY PARTNERS LLC Service code 17 · EIN 88-4096467 50 LAKESIDE AVE, H5 · BURLINGTON, VT 05401	Pension Consulting	$1,693
EQUITY SERVICES INC1 year Service code 27 ONE NATIONAL LIFE DRIVE · MONTPILIER, NH 05604	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$25K

$315 / participant

Other / not subdivided$25K100.0%

% of EOY assets

0.170%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRAY, GRAY & GRAY LLP
Auditor EIN: 042088368
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$127,109

$57,057+122.8%

$85,009+49.5%

$80,874+57.2%

Participation rate

100.0%

56.4%+43.6pp

67.5%+32.5pp

67.6%+32.4pp

Annual return

21.08%

21.66%-0.6pp

66.47%-45.4pp

35.62%-14.5pp

Employer contribution / active EE

$2,741

$1,799+52.4%

$2,728+0.5%

$2,756-0.5%

Participant deferral / active EE

$4,290

$3,112+37.9%

$4,522-5.1%

$4,297-0.2%

Admin fee / account holder

$216

$4,986-95.7%

$6,153-96.5%

$6,935-96.9%

Provider

Service type

Compensation

NATIONWIDE1 year

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$21,221

TWELVE POINTS WEALTH MANAGEMENT LLC1 year

Service code 27 · EIN 46-5061538

AKA TWELVE POINTS RETIREMENT ADVISO · CONCORD, MA 01742

Advisory (Plan)

$7,238

PLAN INTEGRITY PARTNERS, LLC1 year

Filed as: PLAN INTEGRITY PARTNERS LLC

Service code 17 · EIN 88-4096467

50 LAKESIDE AVE, H5 · BURLINGTON, VT 05401

Pension Consulting

$1,693

EQUITY SERVICES INC1 year

Service code 27

ONE NATIONAL LIFE DRIVE · MONTPILIER, NH 05604

Advisory (Plan)

FORMAX 401(K) PENSION PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORMAX 401(K) PENSION PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion