Plan Snapshot
- Plan Sponsor: Magnum Electric, INC.
- Sponsor EIN: 411633269
- Sponsor Address: 471 CHRISTIANSON DRIVE W., WEST FARGO, ND, 58078
- Plan Type: 401(k)
- Total Participants: 373
- Total Assets: $13.4M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 373 | $13.4M | $443,820 | $895,418 |
| 2023 | 289 | $11.1M | $369,333 | $659,545 |
| 2022 | 258 | $8.9M | $344,779 | $626,047 |
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 |
|---|---|---|---|---|
| EIDE BAILLY, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- EIDE BAILLY, LLP — Auditor
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 | $38,433 | — | $35,933 | — | — |
| 2023 | $32,628 | — | $30,228 | — | — |
| 2022 | $30,473 | — | — | — | $30,473 |