The Pay-O-Matic Corp.401(k)
THE PAY-O-MATIC CORP. 401(K) RETIREMENT PLAN · SYOSSET, NY · plan year 2024
Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works
The Pay-O-Matic Corp. reported $207,239 in plan administrative expenses for 2024: 1.77% of average plan assets, higher than ~90% of peers. Employer contributions averaged $0 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 1.14% to 1.77%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in New York (3,263rd of 5,648), and 3,742nd of 4,798 in finance & insurance. In 2024, employees put in $8584.33 for every $1.00 the employer contributed.
The Pay-O-Matic Corp.'s 2024 employer contribution ran below the $2,416 median for plans its size, in the bottom quarter of its peers. 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 132651875 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.