# Magnum Magnetics Corporation 401(k) Plan
Source: https://planprovider.pro/companies/magnum-magnetics-corporation-401k-plan

> Magnum Magnetics Corporation's 401(k) plan: 165 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

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

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