How much does Cryomech, Inc. contribute to its ESOP?

In 2022, employer contributions to the Cryomech, Inc. plan averaged $816 per active participant, below the $2,266 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Cryomech, Inc. 401(k)?

The average participant account balance was $170,687 for plan year 2022, based on 195 accounts.

Cryomech, Inc.ESOP

Name: Cryomech, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

CRYOMECH, INC. EMPLOYEE STOCK OWNERSHIP PLAN · SYRACUSE, NY · plan year 2022

Employer contribution per participant · 2022

$816

Cryomech, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $33,283,919 across 195 participant accounts, with employer contributions averaging $816 per active participant. See methodology for what Form 5500 does and doesn't capture.

Across the 1 year on file its reported administrative ratio rose from 0.27% to 0.29%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other manufacturing employers. By assets it is the 1,832nd-largest of 5,648 plans among New York employers on file, and the 4,170th of 13,661 in manufacturing.

Plan summary
Net assets, end of year$33,283,919
Participants with balances195
Active participants129
Employer contributions$105,303
Employee contributions—
Employer contribution per active participant$816
Average account balance$170,687
Benefits paid to participants$126,748
Plan auditUnmodified (clean) audit opinion
AuditorDERMODY, BURKE & BROWN CPAS, LLC

Plan history3

Yearassets · accounts · employer contribution

2024$9.0M · 231 accts

2023$8.5M · 231 accts · $394K emplr

2022$33.3M · 195 accts · $105K emplr

Employer contributions to the Cryomech, Inc. plan · 2022

Employer contribution per active participant$816

Median for plans this size$2,266

2023$2,465 per active participant

2022$816 per active participant

Cryomech, Inc.'s 2022 employer contribution ran below the $2,266 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3

2024$25,150 · 0.29%

2023$56,615 · 0.27%

2022Not separately reported

All plans at this employer2

CRYOMECH, INC. 401(K) PLAN401(k)

CRYOMECH, INC. EMPLOYEE STOCK OWNERSHIP PLANESOP

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Source: U.S. Department of Labor, Form 5500 series, EIN 160900336 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.