Novaspect, Inc.401(k)
NOVASPECT, INC. 401(K) PLAN · SCHAUMBURG, IL · plan year 2024
Novaspect, Inc.'s 2024 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 $112,125,400 across 605 participant accounts, with employer contributions averaging $5,416 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other wholesale trade employers. By assets it is the 514th-largest of 3,702 plans among Illinois employers on file, and the 377th of 4,246 in wholesale trade. In 2024, employees put in $1.76 for every $1.00 the employer contributed; active participation has grown from 394 to 496 since 2022.
Novaspect, Inc.'s 2024 employer contribution ran above the $3,635 median for plans its size. 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.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 362585273 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.