Retirement plan

MAXLITE 401(K) PLAN

Name: MAXLITE, INC. - MAXLITE 401(K) PLAN (2024) Form 5500
Creator: MAXLITE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAXLITE 401(K) PLAN, MAXLITE, INC.

MAXLITE, INC.EIN 22-3241342Plan #001PY 2024

340 CHANGEBRIDGE ROAD, SUITE 201 - PINEBROOK, NJ 07057973-244-7300maxlite.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.4M

+16.3% from 2023

Total participants

117

+4.5% from 2023

Average account balance

$65,313

+7.0% from 2023

Annual return

14.83%

-5.31 pp from 2023

Benchmarks

See 9,004 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,004 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.38M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

113

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.

95.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$948K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$336

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$34,776
M HOLDINGS SECURITIES INC1 year Filed as: M HOLDINGS SECURITIES Service code 27 · EIN 91-1802259	Advisory (Plan)	$16,371
ORENDA RETIREMENT, LLC2 years Service code 13 · EIN 36-4877979	Contract Administrator	$3,155
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 13	Contract Administrator	$1,877
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D2T

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$38K

$399 / participant

Contract admin$38K100.0%

% of EOY assets

0.514%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TMI, CPA P.C.
Auditor EIN: 472426908
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,313

$101,752-35.8%

$164,928-60.4%

$80,911-19.3%

Participation rate

95.8%

71.8%+23.9pp

78.6%+17.2pp

67.6%+28.1pp

Annual return

14.83%

16.73%-1.9pp

70.08%-55.3pp

35.63%-20.8pp

Employer contribution / active EE

$2,278

$2,953-22.9%

$4,343-47.5%

$2,756-17.3%

Participant deferral / active EE

$7,705

$4,477+72.1%

$6,034+27.7%

$4,297+79.3%

Admin fee / account holder

$336

$8,218-95.9%

$12,684-97.4%

$6,935-95.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$34,776

M HOLDINGS SECURITIES INC1 year

Filed as: M HOLDINGS SECURITIES

Service code 27 · EIN 91-1802259

Advisory (Plan)

$16,371

ORENDA RETIREMENT, LLC2 years

Service code 13 · EIN 36-4877979

Contract Administrator

$3,155

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 13

Contract Administrator

$1,877

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

MAXLITE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAXLITE 401(K) PLAN

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