# Paymax Services, INC. 401(k) Plan
Source: https://planprovider.pro/companies/paymax-services-inc-401k-plan

> Paymax Services, INC.'s 401(k) plan: 155 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Paymax Services, INC.

- **Sponsor EIN:** 341816901

- **Sponsor Address:** 629 EUCLID AVENUE SUITE 1300, CLEVELAND, OH, 44114

- **Plan Type:** 401(k)

- **Total Participants:** 155

- **Total Assets:** $8.6M

## 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|155|$8.6M|$259,768|$814,295|

| 2023|131|$8.0M|$163,855|$682,839|

| 2022|130|$6.3M|$98,768|$662,654|

## 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|

| COHEN & COMPANY, LTD|Auditor|—|—|$0|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### 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|$24,758|$621|$23,687|—|—|

| 2023|$80,865|—|$80,865|—|—|

| 2022|$66,705|—|$66,705|—|—|

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