Plan Snapshot
- Plan Sponsor: Binex
- Sponsor EIN: 954514848
- Sponsor Address: 19515 S VERMONT AVENUE, TORRANCE, CA, 90502
- Plan Type: 401(k)
- Total Participants: 128
- Total Assets: $12.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 128 | $12.9M | $276,199 | $830,027 |
| 2023 | 112 | $10.6M | $732,356 | $996,187 |
| 2022 | 135 | $7.6M | $609,571 | $830,254 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| ALLMERITS ASSET, LLC | INVESTMENT/FINANCIAL ADVI | $49,677 | — | $49,677 |
| KIM & LEE LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALLMERITS ASSET, LLC — INVESTMENT/FINANCIAL ADVI
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $49,677
- Estimated Expense Ratio: 0.385% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $51,472 | $49,677 | — | — | — |
| 2023 | $28,337 | $26,747 | — | — | — |
| 2022 | $31,534 | — | — | — | — |