Plan Snapshot
- Plan Sponsor: Magic Leap, INC.
- Sponsor EIN: 453243237
- Sponsor Address: 7500 WEST SUNRISE BLVD, PLANTATION, FL, 33313
- Plan Type: 401(k)
- Total Participants: 903
- Total Assets: $183.9M
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 | 903 | $183.9M | $7.4M | $15.8M |
| 2023 | 1,027 | $148.2M | $7.0M | $14.9M |
| 2022 | 938 | $110.7M | $6.0M | $13.2M |
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 |
|---|---|---|---|---|
| COHNREZNICK | 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 | $299,665 | — | $296,615 | — | — |
| 2023 | $249,487 | — | $247,537 | — | — |
| 2022 | $250,576 | — | — | — | — |