Plan Snapshot
- Plan Sponsor: Magna International Of America, INC.
- Sponsor EIN: 980095901
- Plan Type: DB
- Total Participants: 339
- Total Assets: $151.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 339 | $151.0M | $0 | $0 |
| 2023 | 494 | $161.9M | $0 | $0 |
| 2022 | 472 | $158.1M | $0 | $0 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Investment Advisor | $530,866 | — | $530,866 |
| GOLDMAN SACHS ASSET MANAGEMENT | Investment Advisor | $354,478 | — | $354,478 |
| THE NORTHERN TRUST COMPANY | Custodian / Trustee | $98,453 | — | $98,453 |
| GJC CPA'S & ADVISORS | Auditor | $25,450 | — | $25,450 |
| BDO USA, P.A. | Auditor | $25,169 | — | $25,169 |
| DICKINSON WRIGHT PLLC | ERISA Attorney | $7,383 | — | $7,383 |
| STATE STREET RESEARCH & MANAGEMENT | Investment Advisor | $5,023 | — | $5,023 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GJC CPA'S & ADVISORS — Auditor
- BDO USA, P.A. — Auditor
- DICKINSON WRIGHT PLLC — ERISA Attorney
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,046,822
- Estimated Expense Ratio: 0.693% 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 | $1,435,485 | $882,907 | — | $50,619 | — |
| 2023 | $1,775,493 | $870,700 | — | $9,643 | — |
| 2022 | $1,377,230 | $796,295 | $94,491 | — | $41,320 |