Magnit Global Solutions 401(k) match, vesting and fees
What Magnit Global Solutions' 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 | Baker Tilly US LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 32 defined-contribution plans in administrative, support and waste management services with 10,000 to 49,999 participants.
| Magnit Global Solutions: employer contribution per participant | $88 | |
| Peer median | $1,628 |
| Magnit Global Solutions: average balance | $18,849 | |
| Peer median | $40,496 |
| Magnit Global Solutions: admin expenses ÷ assets | 0.39% | |
| Peer median | 0.23% |
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 $328M at the end of plan year 2021 to $484M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 33,950 | $484M | $2.3M | $88 | 0.39% | Not published | Form 5500 ↗ |
| 2023 | 36,929 | $425M | $2.4M | $89 | 0.44% | Not published | Form 5500 ↗ |
| 2022 | 30,644 | $292M | $2M | $82 | 0.52% | Not published | Form 5500 ↗ |
| 2021 | 28,778 | $328M | $1.6M | $67 | 0.66% | Not published | Form 5500 ↗ |
Common questions
Does Magnit Global Solutions match 401(k) contributions?
The match terms for the Magnit Global Solutions, Inc. and Subsidiaries 401(k) Employee Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $2.3M in employer contributions, about $88 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Magnit Global Solutions 401(k) match vested?
The vesting schedule for the Magnit Global Solutions, Inc. and Subsidiaries 401(k) Employee Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Magnit Global Solutions 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Magnit Global Solutions, Inc..
I left Magnit Global Solutions. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Magnit Global Solutions, Inc., (800) 813-7946) or the recordkeeper, Principal Life Insurance Company. The Magnit Global Solutions old 401(k) page lists the contacts from every plan filing. Find an old Magnit Global Solutions 401(k)
Data from the public Form 5500 annual reports Magnit Global Solutions 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 Magnit Global Solutions. Not financial advice. Report a correction · Methodology