Plan Ledger DOL Form 5500 · updated monthly

Fonar Corporation401(k)

FONAR CORPORATION 401(K) PLAN · MELVILLE, NY · plan year 2024

Reported admin expense ratio · 2024
0.01%

Fonar Corporation reported $6,835 in plan administrative expenses for 2024: 0.01% of average plan assets, lower than ~75% of peers. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 2 years on file its reported administrative ratio fell from 0.02% to 0.01%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other manufacturing employers. By assets it is the 1,368th-largest of 5,648 plans among New York employers on file, and the 3,148th of 13,661 in manufacturing.

Plan summary
Net assets, end of year$50,081,500
Participants with balances599
Active participants582
Employer contributions—
Employee contributions$1,974,372
Employer contribution per active participant—
Average account balance$83,609
Benefits paid to participants$954,559
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$50.1M · 599 accts
2023$42.5M · 569 accts
2022$36.7M · 542 accts · $37K emplr
What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20241
RED BANK PENSION SERVICES, INC.$6,500

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024$6,835 · 0.01%
2023$5,366 · 0.01%
2022$6,436 · 0.02%
Similar plansManufacturing · New York
Materne North America Corp. NY$50.9M · 0.37%
Mana Products, Inc. NY$50.4M · 0.06%
Frequency Electronics, Inc. NY$50.3M · 0.20%
The Mentholatum Company NY$49.1M · 0.29%
Interplex Industries, Inc. NY$48.3M · 0.24%
Mold-Rite Plastics, LLC NY$48.1M · 0.46%

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Source: U.S. Department of Labor, Form 5500 series, EIN 112464137 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.