# Magna International Of America, INC. 401(k) Plan
Source: https://planprovider.pro/companies/magna-international-of-america-inc-401k-plan

> Magna International Of America, INC.'s 401(k) plan: 25,203 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/george-johnson-and-company) — 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|

## Similar Plans

- [Magna International Of America, INC.](https://planprovider.pro/companies/magna-international-of-america-inc-plan-005) — 339 participants

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