Plan Snapshot
- Plan Sponsor: Methode Electronics, INC.
- Sponsor EIN: 362090085
- Sponsor Address: 25650 W 11 MILE ROAD, SOUTHFIELD, MI, 48034
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 847
- Total Assets: $97.6M
Key Plan Design Features
- Auto-Enrollment: No
- 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. |
|---|---|---|---|---|
| 2025 | 847 | $97.6M | $0 | $0 |
| 2024 | 378 | $93.2M | $1.3M | $3.3M |
| 2023 | 407 | $93.1M | $1.2M | $3.3M |
| 2022 | 388 | $85.9M | $1.2M | $3.0M |
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 |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | Other Service Provider | $70,606 | — | $70,606 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $70,606
- Estimated Expense Ratio: 0.072% 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 |
|---|---|---|---|---|---|
| 2025 | $12,941,164 | — | $70,606 | — | — |
| 2024 | $72,596 | — | $72,596 | — | — |
| 2023 | $78,068 | $6,250 | $71,818 | — | — |
| 2022 | $133,760 | $18,750 | $100,817 | — | $11,757 |