Socotec, Inc.401(k)
SOCOTEC, INC. PROFIT SHARING PLAN · NEW YORK, NY · plan year 2024
Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works
Socotec, Inc. reported $259,240 in plan administrative expenses for 2024: 0.32% of average plan assets, higher than ~75% of peers. Employer contributions averaged $3,159 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 rose from 0.22% to 0.32%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other professional & technical services employers. By assets it is the 924th-largest of 5,648 plans among New York employers on file, and the 1,782nd of 11,654 in professional & technical services. In 2024, employees put in $2.98 for every $1.00 the employer contributed; active participation has grown from 388 to 474 since 2022.
Socotec, Inc.'s 2024 employer contribution ran below 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.
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.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 131584475 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.