Plan Snapshot
- Plan Sponsor: Magtek
- Sponsor EIN: 952774055
- Sponsor Address: 1710 APOLLO COURT, SEAL BEACH, CA, 90740
- Plan Type: 401(k)
- Total Participants: 142
- Total Assets: $105.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 142 | $105.0M | $456,078 | $1.5M |
| 2023 | 149 | $97.0M | $518,623 | $1.6M |
| 2022 | 147 | $88.4M | $716,241 | $1.5M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $44,747 | — | $44,747 |
| WRIGHT FORD YOUNG & CO. | ACCOUNTANT/AUDITOR | $13,000 | — | $13,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- WRIGHT FORD YOUNG & CO. — ACCOUNTANT/AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,747
- Estimated Expense Ratio: 0.055% 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 | -$4,375 | $4,394 | — | $13,000 | — |
| 2023 | $17,353 | $5,120 | $300 | $9,000 | — |
| 2022 | $13,590 | $5,618 | — | — | — |