# Magnetic Inspection Laboratory, INC 401(k) Plan
Source: https://planprovider.pro/companies/magnetic-inspection-laboratory-inc-401k-plan

> Magnetic Inspection Laboratory, INC's 401(k) plan: 247 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Magnetic Inspection Laboratory, INC

- **Sponsor EIN:** 362814092

- **Sponsor Address:** 1401 GREENLEAF AVENUE, ELK GROVE, IL, 60007

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

- **Total Participants:** 247

- **Total Assets:** $17.3M

## 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|247|$17.3M|$629,744|$1.0M|

| 2023|213|$16.3M|$727,608|$957,622|

| 2022|184|$15.3M|$527,711|$786,158|

## 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|

| DHJJ LTD|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|$19,582|—|—|—|—|

| 2023|$13,786|—|—|—|—|

| 2022|$10,815|—|—|—|$10,815|

## Similar Plans

- [Ipsen, INC.](https://planprovider.pro/companies/ipsen-inc-401k-plan) — 246 participants

- [Material Sciences Corporation](https://planprovider.pro/companies/material-sciences-corporation-401k-plan) — 249 participants

- [Swd, INC.](https://planprovider.pro/companies/swd-inc-401k-plan) — 192 participants

- [Orion Industries, Ltd.](https://planprovider.pro/companies/orion-industries-ltd-401k-plan) — 168 participants

- [Superheat Fgh Services, INC.](https://planprovider.pro/companies/superheat-fgh-services-inc-401k-plan) — 345 participants

- [Chem-Plate Industries, INC.](https://planprovider.pro/companies/chem-plate-industries-inc-401k-plan) — 140 participants

[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/magnetic-inspection-laboratory-inc-401k-plan)

© 2026 PlanProvider.Pro