Magna International of America 401(k) match, vesting and fees
What Magna International of America's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Gjc Cpa'S & Advisors (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
How the plan compares
Plan year 2024 medians for 203 defined-contribution plans in manufacturing with 10,000 to 49,999 participants.
| Magna International of America: employer contribution per participant | $2,560 | |
| Peer median | $3,733 |
| Magna International of America: average balance | $81,136 | |
| Peer median | $157,962 |
| Magna International of America: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.05% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $2.6B at the end of plan year 2021 to $2.5B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 31,327 | $2.5B | $77.9M | $2,560 | 0.11% | Not published | Form 5500 ↗ |
| 2023 | 31,296 | $2.4B | $73.5M | $2,449 | 0.11% | Not published | Form 5500 ↗ |
| 2022 | 30,709 | $2.1B | $66.6M | $2,286 | 0.09% | Not published | Form 5500 ↗ |
| 2021 | 28,027 | $2.6B | $58.2M | $2,150 | 0.09% | Not published | Form 5500 ↗ |
Other Magna International of America plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Magna U.S. Consolidated Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Gjc Cpa'S & Advisors (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Magna International of America match 401(k) contributions?
The match terms for the The Magna Group of Companies Retirement Savings Plans have not been published from its filing yet. The plan year 2024 filing reports $77.9M in employer contributions, about $2,560 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Magna International of America 401(k) match vested?
The vesting schedule for the The Magna Group of Companies Retirement Savings Plans is not in the data published so far. Your Summary Plan Description states it.
Who manages the Magna International of America 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Magna International of America, Inc..
I left Magna International of America. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Magna International of America, Inc., (905) 726-7345) or the recordkeeper, Principal Life Insurance Company. The Magna International of America old 401(k) page lists the contacts from every plan filing. Find an old Magna International of America 401(k)
Data from the public Form 5500 annual reports Magna International of America filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Magna International of America. Not financial advice. Report a correction · Methodology