Department of Labor filing

NOVATEC, INC.

NOVATEC, INC. 401(K) PLAN · For the plan year ended Dec 31, 2024

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Public filing 2024 · received Oct 6, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

42filing comparison
out of 100

The filing looks broadly typical among comparable plans. This is a filing comparison, not a complete benefits score.

$Employer support

$2,716

Reported employer contributions per active participant.

Higher than about 60% of comparable plans

#People in the filing

108

Active participants reported for 2024.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$753 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 0% of comparable plans

↗Investment performance

Not available

Plan assets changed 15.0%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202442out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions60th percentileTypical peer $2,293 · based on 622 comparable plans

Lower reported administrative expense0th percentileTypical peer $193 · based on 639 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2024, NOVATEC, INC. reported $293,354 in employer contributions across the plan and 108 active participants. That works out to $2,716 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy83%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendDown 8.8%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendUp 17.1%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context42/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $293,354
Participant contributions: $554,369
Other contributions: $18,891
Employer share of reported contributions: 34.6%
Beginning assets: $10,900,272
Ending assets: $12,539,402
Ending net assets: $12,539,402
Ending liabilities: $0
Total income: $2,704,981
Total expenses: $1,065,851
Administrative expenses: $100,101
Participant loans: $115,734

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$2,978

2023

$2,605

2024

$2,716

Plan-paid administrative expenses per participant

2022

$643

2023

$543

2024

$753

Active participants

2022

2023

115

2024

108

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$2,716	108	12.5M	20251006091351NAL0001747859001
2023	$2,605	115	10.9M	20240905085921NAL0010278739001
2022	$2,978	83	8.9M	20231012144145NAL0031551713001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 0.9%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Yes
Public plan identifier: 520815915-003

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Jun 1, 2008
Industry: Industry group 333
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2G2J2K2T3D

Current plan terms

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Filing ACK_ID20251006091351NAL0001747859001

Data sourceDOL Form 5500 bulk data ↗

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