Magna International of America, Inc.401(k)
THE MAGNA GROUP OF COMPANIES RETIREMENT SAVINGS PLANS · · plan year 2024
Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works
Magna International of America, Inc. reported $2,653,286 in plan administrative expenses for 2024: 0.11% of average plan assets, higher than ~75% of peers. Employer contributions averaged $3,092 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.09% to 0.11%. The plan sits in the over $1B size bracket, benchmarked here against 1,229 comparable plans and shown alongside other manufacturing employers. By assets it is the 133rd of 13,661 in manufacturing. In 2024, employees put in $1.62 for every $1.00 the employer contributed.
Magna International of America, Inc.'s 2024 employer contribution ran below the $5,259 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 980095901 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.