Plan Snapshot
- Plan Sponsor: Magnificus Corporation
- Sponsor EIN: 522220795
- Sponsor Address: 9500 ANNAPOLIS ROAD, SUITE A-7, LANHAM, MD, 20706
- Plan Type: 401(k)
- Total Participants: 302
- Total Assets: $3.1M
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 | 302 | $3.1M | $0 | $652,597 |
| 2023 | 288 | $2.7M | $4,129 | $593,965 |
| 2022 | 270 | $2.1M | $14,800 | $551,719 |
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 |
|---|---|---|---|---|
| GEORGE NWABUKWU & ASSOCIATES | 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 | $19,862 | — | $19,862 | — | — |
| 2023 | $34,936 | — | $34,936 | — | — |
| 2022 | $18,026 | — | $18,026 | — | — |