# Magic City Motor Corporation 401(k) Plan
Source: https://planprovider.pro/companies/magic-city-motor-corporation-401k-plan

> Magic City Motor Corporation's 401(k) plan: 168 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Magic City Motor Corporation

- **Sponsor EIN:** 540290231

- **Sponsor Address:** 809 WILLIAMSON ROAD, ROANOKE, VA, 24016

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

- **Total Participants:** 168

- **Total Assets:** $10.0M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **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|168|$10.0M|$0|$489,884|

| 2023|167|$9.9M|$0|$517,714|

| 2022|165|$9.6M|$0|$534,286|

## 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|

| FOTI, FLYNN, LOWEN AND CO. PC|Auditor|—|—|$0|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $0

### 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|$59,129|—|$59,129|—|—|

| 2023|$75,930|—|$75,930|—|—|

| 2022|$47,287|—|$47,287|—|—|

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