Dmax 401(k) match, vesting and fees
What Dmax's 401(k) plan says about matching contributions
Employer Match – Salaried Employees The Company contributes 100% of the first 4% of compensation, as defined, that a participant contributes to the Plan.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 31 ↗ |
| Match vesting | Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after three years of service. Full vesting also occurs if a participant becomes disabled, as defined; dies while actively employed; or reaches full retirement age, as defined. | Audit report, p. 32 ↗ |
| Automatic enrollment | Eligible hourly employees are automatically enrolled in the Plan unless they affirmatively decline to participate. | Audit report, p. 31 ↗ |
| Roth contributions | Participants in the Plan may contribute up to 60% of their pretax and/or Roth after-tax annual compensation, as defined in the Plan document. | Audit report, p. 31 ↗ |
| Loans | Participant Loans Participants may borrow from their accounts a minimum of $1,000, up to a maximum level equal to the lesser of (a) 50% of the participant’s vested account balance or (b) $50,000. The loans are secured by the balance in the participants’ accounts. Loan terms range to a maximum of 60 months or 120 months if the loan is for the purchase of a principal residence. The interest rate on loans outstanding is determined at the prime rate and ranges from 3.25% to 9.50%. Principal and interest are repaid weekly through payroll deduction or by check. A participant’s loan is treated as a distribution if any scheduled repayment remains unpaid as of the last business day of the calendar quarter following the calendar quarter (end of the cure period) in which a loan is initially past due or if there is any outstanding balance at the end of the cure period for the last scheduled payment date. | Audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Ernst & Young LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 1,619 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Dmax: employer contribution per participant | $3,068 | |
| Peer median | $2,413 |
| Dmax: average balance | $93,003 | |
| Peer median | $86,456 |
| Dmax: admin expenses ÷ assets | 0.24% | |
| Peer median | 0.12% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $105M at the end of plan year 2021 to $113M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,240 | $113M | $3.7M | $3,068 | 0.24% | Quoted in the audit report, p. 31 ↗ | Form 5500 ↗ |
| 2023 | 1,231 | $106M | $3.8M | $3,197 | 0.23% | Not published | Form 5500 ↗ |
| 2022 | 1,166 | $90.7M | $3.7M | $3,194 | 0.23% | Not published | Form 5500 ↗ |
| 2021 | 1,025 | $105M | $3.1M | $2,986 | 0.24% | Not published | Form 5500 ↗ |
Common questions
Does Dmax match 401(k) contributions?
The audit report attached to the Dmax 401(k) Savings Plan's plan year 2024 Form 5500, page 31 says: “Employer Match – Salaried Employees The Company contributes 100% of the first 4% of compensation, as defined, that a participant contributes to the Plan.” Plan terms may have changed; check your current Summary Plan Description.
When is the Dmax 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Participants are vested immediately in their contributions, plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after three years of service. Full vesting also occurs if a participant becomes disabled, as defined; dies while actively employed; or reaches full retirement age, as defined.”
Who manages the Dmax 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Dmax, Ltd..
I left Dmax. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Dmax, Ltd., (937) 425-9730) or the recordkeeper, Fidelity Investments Institutional. The Dmax old 401(k) page lists the contacts from every plan filing. Find an old Dmax 401(k)
Data from the public Form 5500 annual reports Dmax filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Dmax. Not financial advice. Report a correction · Methodology