Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Methode Electronics
Methode Electronics 401(k)
- MEI NYSE
- Manufacturing
- Chicago, IL
- EIN 36-2090085
- 1 plan with Schedule H financials
- Plan year 2024
- Methode Electronics, Inc.
- SEC registrant Methode Electronics Inc
Administrative expenses excluding investment management, per participant · Methode Electronics, Inc. 401(k) Savings Plan · plan year 2024
$85.11
Higher than 45% of the 8,758 plans $50 to 250M that report it.
Source
= $72,596 / 853
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250714013623NAL0000593025001, received 2025-07-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250714013623NAL0000593025001, received 2025-07-14
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 2025-07-14.
Cost and contributions
Administrative expenses per participant
$85.11
Higher than 29% of the 9,042 plans $50 to 250M that report it.
Source
= $72,596 / 853
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250714013623NAL0000593025001, received 2025-07-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250714013623NAL0000593025001, received 2025-07-14
Administrative expenses as a share of assets
0.078%
Higher than 29% of the 9,049 plans $50 to 250M that report it.
Source
= $72,596 / $93,228,639
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250714013623NAL0000593025001, received 2025-07-14
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250714013623NAL0000593025001, received 2025-07-14
Employer contributions per participant
$1,519
Higher than 21% of the 9,105 plans $50 to 250M that report it.
Source
= $1,296,086 / 853
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250714013623NAL0000593025001, received 2025-07-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250714013623NAL0000593025001, received 2025-07-14
Employer share of total contributions
25.5%
Higher than 36% of the 9,112 plans $50 to 250M that report it.
Source
= $1,296,086 / $5,092,198
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250714013623NAL0000593025001, received 2025-07-14
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250714013623NAL0000593025001, received 2025-07-14
Plan terms, as stated in Methode Electronics, Inc.'s SEC filings
Vesting
“Participants are immediately vested in Company contributions, their contributions, and actual earnings (losses) thereon.”
Form 11-K filed 2026-06-24, for the year ended 2025-12-31 · plan description note, vesting · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2T default investment (QDIA) · 3H controlled-group sponsor · 2S pre-approved plan document · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250714013623NAL0000593025001, received 2025-07-14
Full record, Methode Electronics, Inc. 401(k) Savings Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | METHODE ELECTRONICS, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Plan name | METHODE ELECTRONICS, INC. 401(K) SAVINGS PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Sponsor EIN / plan number | 36-2090085 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Sponsor location | CHICAGO, IL | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Industry (business code) | 335900, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Filing received | 2025-07-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Participants, beginning of year | 930 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Active participants | 378 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Participants, end of year | 854 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Participants with an account balance | 853 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total assets, beginning of year | $93,102,643 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total assets, end of year | $93,228,639 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Net assets, end of year | $93,228,639 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total income | $15,218,620 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Net income | $125,996 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Employer contributions | $1,296,086 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Participant contributions | $3,275,119 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Other contributions (incl. rollovers) | $520,993 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total contributions | $5,092,198 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Benefit payments | $14,971,300 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total expenses (incl. benefit payments) | $15,092,624 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Total administrative expenses | $72,596 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Contract administrator fees | $72,596 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Administrative expenses excluding investment management | $72,596 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Held in mutual funds | $76,481,637 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250714013623NAL0000593025001, received 2025-07-14 |
| Independent auditor | SASSETTI LLC | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250714013623NAL0000593025001, received 2025-07-14 |
Position = column in the DOL layout for form year 2024. Filing 20250714013623NAL0000593025001, received 2025-07-14.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | SERVICE PROVIDER | 13 Contract administrator | $72,596 | yes |
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 20250714013623NAL0000593025001, received 2025-07-14.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $93,102,643 | $93,228,639 | 0.1% |
| Participants with a balance | 929 | 853 | -8.2% |
| Administrative expenses | $78,068 | $72,596 | -7.0% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,192,386 | $1,296,086 | 8.7% |
Prior filing 20240716074125NAL0002240161001, received 2024-07-16; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: METHODE ELECTRONICS, INC.; SEC registrant: METHODE ELECTRONICS INC (CIK 65270, matched by EIN; display name from the Form 11-K cover).