Plan Snapshot
- Plan Sponsor: Mg Electric INC.
- Sponsor EIN: 475207669
- Sponsor Address: 39360 3RD ST EAST, SUITE B201, PALMDALE, CA, 93550
- Plan Type: 401(k)
- Total Participants: 124
- Total Assets: $2.9M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 124 | $2.9M | $1.2M | $116,601 |
| 2023 | 167 | $1.6M | $1.3M | $95,256 |
| 2022 | 120 | $281,356 | $291,277 | $0 |
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 |
|---|---|---|---|---|
| BENECO SYSTEMS, LLC | Other Service Provider | $36,644 | — | $36,644 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $36,644
- Estimated Expense Ratio: 1.263% 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 | $36,644 | $15,412 | $4,284 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |