2023 Form 5500 filing — Magnit Global Solutions, Inc. And Subsidiaries 401(K) Employee Savings
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 20241015151821NAL0028906433001) for Magnit Global Solutions, Inc. And Subsidiaries 401(K) Employee Savings, reported by Magnit Global Solutions, Inc. under EIN 27-3835632 and plan number 001. It reports 35,910 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015151821NAL0028906433001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Magnit Global Solutions, Inc.
- EIN
- 27-3835632
- Plan number
- 001
- Location
- Folsom, CA
- Participants
- 35,910
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $424,778,560
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $424,778,560
- Employer contributions
- $2,357,392
- Participant contributions
- $74,140,896
- Total income / additions
- $149,956,804
- Benefits paid
- $80,725,179
- Administrative expenses
- $1,585,102
- Total expenses
- $82,631,147
- Net increase / (decrease)
- $67,325,657
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINSTRATOR | $1,585,102 | $20,052 |
| Dimeo Scheider & Assoc | INVESTMENT ADVISORY | $0 | $64,375 |
| Baker Tilly Us Llp | ACCOUNTANT | $0 | $50,589 |