# Frank N. Magid Associates, INC 401(k) Plan
Source: https://planprovider.pro/companies/frank-n-magid-associates-inc-401k-plan

> Frank N. Magid Associates, INC's 401(k) plan: 75 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Frank N. Magid Associates, INC

- **Sponsor EIN:** 420894975

- **Sponsor Address:** 8500 NORMANDALE LAKE BLVD STE. 630, MINNEAPOLIS, MN, 55437

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

- **Total Participants:** 75

- **Total Assets:** $23.0M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

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

## Plan Financials by Year

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

| 2024|75|$23.0M|$38,000|$974,867|

| 2023|103|$23.3M|$50,000|$1.3M|

| 2022|120|$22.2M|$135,000|$1.2M|

## 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|

| BAKER TILLY US, LLP|Auditor|$3,400|—|$3,400|

### Verified Provider Profiles

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

- [BAKER TILLY US, LLP](https://planprovider.pro/provider/baker-tilly-us-llp) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $3,400

- **Estimated Expense Ratio:** 0.015% 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|$64,727|$29,032|—|$3,400|—|

| 2023|$75,478|$34,798|—|$10,000|—|

| 2022|$64,986|—|$64,986|—|—|

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