2023 Form 5500 filing — Mag Automotive 401(K) Savings Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240912115212NAL0004416195001) for Mag Automotive 401(K) Savings Plan, reported by Mag Automotive, LLC under EIN 30-0774344 and plan number 001. It reports 270 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240912115212NAL0004416195001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Mag Automotive, LLC
- EIN
- 30-0774344
- Plan number
- 001
- Location
- Sterling Heights, MI
- Participants
- 270
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $38,092,533
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $38,092,533
- Employer contributions
- $724,937
- Participant contributions
- $2,828,683
- Total income / additions
- $8,697,310
- Benefits paid
- $2,094,450
- Administrative expenses
- $79,201
- Total expenses
- $2,173,651
- Net increase / (decrease)
- $6,523,659
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Fidelity Investments Institutional | RECORDKEEPER | $41,085 | $0 |
| Resources Investment Advisors LLC | ADVISOR | $28,000 | not reported in the loaded dataset |
| Strategic Advisors, Inc. | ADVISOR | $10,116 | not reported in the loaded dataset |