# The Pay-O-Matic Corp. 401(k) Plan
Source: https://planprovider.pro/companies/the-pay-o-matic-corp-401k-plan

> The Pay-O-Matic Corp.'s 401(k) plan: 1,571 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** The Pay-O-Matic Corp.

- **Sponsor EIN:** 132651875

- **Sponsor Address:** 160 OAK DRIVE, SYOSSET, NY, 117914621

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

- **Total Participants:** 1,571

- **Total Assets:** $12.4M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|1,571|$12.4M|$82|$703,915|

| 2023|1,495|$11.0M|$0|$677,093|

| 2022|1,515|$10.6M|$0|$698,428|

## 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|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTACT ADMINISTRATOR|$148,071|—|$148,071|

| AGGREGATE RETIREMENT|CONTRACT ADMINISTRATOR|$59,168|$26,940|$86,108|

| TOWERS WATSON INVESTMENT SERVICES|INVESTMENT ADVISORY|—|$27,719|$27,719|

| PENSION ASSURANCE LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [PENSION ASSURANCE LLP](https://planprovider.pro/provider/pension-assurance-llp) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $261,898

- **Estimated Expense Ratio:** 2.104% 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|$207,239|—|$207,239|—|—|

| 2023|$194,348|—|$194,348|—|—|

| 2022|$137,810|—|$137,810|—|—|

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