Employers › Faro Technologies
Recordkeeping fees per participant · Faro 401(k) Plan · plan year 2024
$83.38
Higher than 61% of the 5,847 plans $50 to 250M that report it.
= $57,035 / 684
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251014134832NAL0006159298001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014134832NAL0006159298001, received 2025-10-14
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-14.
Administrative expenses excluding investment management, per participant
$95.81
Higher than 52% of the 8,758 plans $50 to 250M that report it.
= $65,535 / 684
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014134832NAL0006159298001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014134832NAL0006159298001, received 2025-10-14
Administrative expenses per participant
$343.48
Higher than 90% of the 9,042 plans $50 to 250M that report it.
= $234,937 / 684
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014134832NAL0006159298001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014134832NAL0006159298001, received 2025-10-14
Administrative expenses as a share of assets
0.316%
Higher than 89% of the 9,049 plans $50 to 250M that report it.
= $234,937 / $74,301,567
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014134832NAL0006159298001, received 2025-10-14
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014134832NAL0006159298001, received 2025-10-14
Employer contributions per participant
$2,297
Higher than 40% of the 9,105 plans $50 to 250M that report it.
= $1,571,323 / 684
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014134832NAL0006159298001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014134832NAL0006159298001, received 2025-10-14
Employer share of total contributions
19.7%
Higher than 18% of the 9,112 plans $50 to 250M that report it.
= $1,571,323 / $7,976,193
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014134832NAL0006159298001, received 2025-10-14
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014134832NAL0006159298001, received 2025-10-14
Plan terms are described in Faro Technologies, Inc.'s SEC filings: Form 10-K filed 2025-02-24. No term could be quoted from them with the required precision.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251014134832NAL0006159298001, received 2025-10-14
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FARO TECHNOLOGIES, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Plan name | FARO 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Sponsor EIN / plan number | 59-3157093 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Sponsor location | LAKE MARY, FL | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Industry (business code) | 339900, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Filing received | 2025-10-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Participants, beginning of year | 700 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Active participants | 400 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Participants, end of year | 695 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Participants with an account balance | 684 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total assets, beginning of year | $64,769,444 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total assets, end of year | $74,301,567 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Net assets, end of year | $74,301,567 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total income | $17,053,742 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Net income | $9,532,123 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Employer contributions | $1,571,323 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Participant contributions | $5,153,594 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Other contributions (incl. rollovers) | $1,251,276 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total contributions | $7,976,193 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Benefit payments | $7,276,720 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total expenses (incl. benefit payments) | $7,521,619 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Total administrative expenses | $234,937 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Contract administrator fees | $1,500 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Recordkeeping fees | $57,035 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| IQPA audit fees | $7,000 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Investment advisory and management fees | $169,402 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Administrative expenses excluding investment management | $65,535 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Held in master trusts | $0 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Held in common/collective trusts | $48,540,433 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Held in mutual funds | $23,089,865 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251014134832NAL0006159298001, received 2025-10-14 |
| Independent auditor | KBF CPAS - AUDIT, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251014134832NAL0006159298001, received 2025-10-14 |
Position = column in the DOL layout for form year 2024. Filing 20251014134832NAL0006159298001, received 2025-10-14.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| NFP RETIREMENT | INVESTMENT ADVISOR | 27 Investment advisory (plan) | $151,466 | no |
| FIDELITY INVESTMENTS INSTITUTIONALrecordkeeper | RECORDKEEPER | 37 Participant loan processing; 60 Sub-transfer agency fees; 64 Recordkeeping fees; 65 Account maintenance fees | $58,535 | yes |
| STRATEGIC ADVISORS, INC. | ADVISOR | 27 Investment advisory (plan) | $17,936 | no |
| KBF CPAS - AUDIT, LLP | PLAN AUDITOR | 10 Accounting (including auditing) | $7,000 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251014134832NAL0006159298001, received 2025-10-14.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $64,769,444 | $74,301,567 | 14.7% |
| Participants with a balance | 694 | 684 | -1.4% |
| Administrative expenses | $247,980 | $234,937 | -5.3% |
| Recordkeeping fees per participant | $106.55 | $83.38 | -21.7% |
| Employer contributions | $1,672,622 | $1,571,323 | -6.1% |
Prior filing 20241007153957NAL0007737363001, received 2024-10-07; the plan years are contiguous.
Sponsor name as filed: FARO TECHNOLOGIES, INC.; SEC registrant: FARO TECHNOLOGIES INC (CIK 917491, matched by EIN; display name from the Form 10-K cover).