# Magnum Electric, INC. 401(k) Plan
Source: https://planprovider.pro/companies/magnum-electric-inc-plan

> Magnum Electric, INC.'s 401(k) plan: 373 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/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|

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