MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS
Plan Contact
- Address: 2365 IRON POINT ROAD SUITE 270,FOLSOM,CA
- Contact person: JENNIFER BRANCAZIO
- Phone: (800) 813-7946
Plan General Information
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is $424,778,560.00.This plan was established in 1987.
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is 35910
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Average Participant Retirement Account Value
In 2023, the average participant retirement account value for MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is $11,828.00
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is $4,129.00.
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is approximately $65.00
Investing in this additonal $65.00 for 20 years would give you extra $4,201.00, assuming a 10% annual return.
Investing in this additonal $65.00 for 20 years would give you extra $4,201.00, assuming a 10% annual return.
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Total Employer Contribution and Match Rate
In 2023, MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS allocates $2,357,392.00 to match its employees' contributions, providing an employer match rate of 3.18% of their contributions
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is 45.61%.
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is 43.37%. This measures the effectiveness of the plan participants' investments in the year.
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS Expense Ratio
In 2023, the investment and administrative expense ratio of MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS is 0.37%.
Enrollment Features
MAGNIT GLOBAL SOLUTIONS, INC. AND SUBSIDIARIES 401(K) EMPLOYEE SAVINGS has the following features:Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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