Paymax Services, Inc.401(k)
PAYMAX SERVICES, INC. 401(K) PROFIT SHARING PLAN · CLEVELAND, OH · plan year 2024
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Paymax Services, Inc. reported $24,758 in plan administrative expenses for 2024: 0.30% of average plan assets, below the peer median. Employer contributions averaged $1,676 per active participant. 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 0.99% to 0.30%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other professional & technical services employers. By assets it is among the smaller plans on file in Ohio (2,127th of 3,295), and 8,444th of 11,654 in professional & technical services. In 2024, employees put in $3.13 for every $1.00 the employer contributed; active participation has grown from 130 to 155 since 2022.
Paymax Services, Inc.'s 2024 employer contribution ran above the $1,313 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.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
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 341816901 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.