Master Magnetics 401(k) match, vesting and fees
What Master Magnetics' 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 | Forvis Mazars, LLP (unmodified opinion, limited scope) | 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 33,160 defined-contribution plans in wholesale trade with fewer than 100 participants.
| Master Magnetics: employer contribution per participant | $2,117 | |
| Peer median | $2,314 |
| Master Magnetics: average balance | $70,182 | |
| Peer median | $76,922 |
| Master Magnetics: admin expenses ÷ assets | 0.73% | |
| Peer median | 0.42% |
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 $4.3M at the end of plan year 2023 to $6.5M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 94 | $6.5M | $197K | $2,117 | 0.73% | Not published | Form 5500 ↗ |
| 2023 | 123 | $4.3M | $40K | $323 | 0.69% | Not published | Form 5500 ↗ |
Common questions
Does Master Magnetics match 401(k) contributions?
The match terms for the Master Magnetics, Inc. 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $197K in employer contributions, about $2,117 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Master Magnetics 401(k) match vested?
The vesting schedule for the Master Magnetics, Inc. 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Master Magnetics 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Master Magnetics, Inc..
I left Master Magnetics. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Master Magnetics, Inc., (303) 703-9104) or the recordkeeper, Principal Life Insurance Company. The Master Magnetics old 401(k) page lists the contacts from every plan filing. Find an old Master Magnetics 401(k)
Data from the public Form 5500 annual reports Master Magnetics filed with the U.S. Department of Labor (plan years 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 Master Magnetics. Not financial advice. Report a correction · Methodology