Magtek Profit Sharing/401(K) Plan — Form 5500 plan (Magtek)
Plain-English plan 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, Magtek Profit Sharing/401(K) Plan is a benefit plan reported by Magtek under EIN 95-2774055 and plan number 002. The latest loaded filing year is 2023. The filing reports 244 participants and $97,049,433 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Magtek
- EIN
- 95-2774055
- Plan number
- 002
- Plan type
- 2
- Location
- Seal Beach, CA
- Latest filing year
- 2023
- Participants
- 244
- End-of-year plan assets
- $97,049,433
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 244 | H, C | 20240916104310NAL0001368833001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $97,049,433
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $97,049,433
- Net assets (BOY)
- $88,415,007
Income & contributions
- Employer contributions
- $518,623
- Participant contributions
- $1,610,463
- Total contributions
- $2,129,086
- Total income / additions
- $18,197,230
Expenses & distributions
- Benefits paid
- $9,545,451
- Administrative expenses
- $17,353
- Total expenses
- $9,562,804
- Net increase / (decrease)
- $8,634,426
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Wright Ford Young & Co. | ACCOUNTANT/AUDITOR | $9,000 | not reported in the loaded dataset | 2023 |
| Strategic Advisors, Inc. | ADVISOR | $5,120 | not reported in the loaded dataset | 2023 |
| Fidelity Investments Institutional | RECORDKEEPER | $3,291 | $0 | 2023 |