Plan Snapshot
- Plan Sponsor: Magnum Magnetics Corporation
- Sponsor EIN: 311333777
- Sponsor Address: 801 MASONIC PARK ROAD, MARIETTA, OH, 45750
- Plan Type: 401(k)
- Total Participants: 165
- Total Assets: $10.7M
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 | 165 | $10.7M | $220,839 | $503,985 |
| 2023 | 180 | $8.8M | $187,260 | $472,517 |
| 2022 | 176 | $7.2M | $156,136 | $392,446 |
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 |
|---|---|---|---|---|
| PEOPLES BANK | NONE | $51,411 | — | $51,411 |
| GBQ PARTNERS, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GBQ PARTNERS, LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $51,411
- Estimated Expense Ratio: 0.480% 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 | $51,411 | — | — | — | — |
| 2023 | $46,130 | — | — | — | — |
| 2022 | $33,482 | — | — | — | — |