Profac, Inc. dba Merritt Woodwork401(k)
MERRITT WOODWORK 401(K) PROFIT SHARING PLAN · MENTOR, OH · plan year 2023
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Profac, Inc. dba Merritt Woodwork reported $20,433 in plan administrative expenses for 2023: 0.34% of average plan assets, below the peer median. Employer contributions averaged $1,542 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 1 year on file its reported administrative ratio rose from 0.21% to 0.34%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Ohio (2,349th of 3,295), and 10,385th of 13,661 in manufacturing. In 2023, employees put in $2.38 for every $1.00 the employer contributed.
Profac, Inc. dba Merritt Woodwork's 2023 employer contribution ran above the $1,308 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 2023 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.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 341107300 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.