Plan Snapshot
- Plan Sponsor: Magna International Of America, INC.
- Sponsor EIN: 980095901
- Plan Type: 401(k)
- Total Participants: 25,203
- Total Assets: $2.5B
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 | 25,203 | $2.5B | $77.9M | $126.0M |
| 2023 | 25,267 | $2.4B | $73.5M | $119.1M |
| 2022 | 24,742 | $2.1B | $66.6M | $110.0M |
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 |
|---|---|---|---|---|
| GJC CPA'S & ADVISORS | Auditor | $15,000 | — | $15,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GJC CPA'S & ADVISORS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $15,000
- Estimated Expense Ratio: 0.001% 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 | $2,653,286 | $1,581,603 | $1,039,483 | $15,000 | — |
| 2023 | $2,558,793 | $1,704,808 | $737,554 | $95,724 | — |
| 2022 | $2,110,414 | — | $2,053,232 | — | $57,182 |