MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN

Plan Contact

  • Address: 2250 E DEVON AVE,,DES PLAINES,IL
  • Contact person: WILLIAM WITOWSKI
  • Phone: (773) 290-2880

Plan General Information

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Total Retirement Plan Assets

At the end of 2022, the total retirement plan assets of MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is $3,404,129.00.This plan was established in 2005.

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Total Number of Retirement Plan Participants

At the end of 2022, the total number of retirement plan participants in MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is 271

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is $12,561.00

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is $2,167.00.

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is approximately $906.00
Investing in this additonal $906.00 for 20 years would give you extra $57,986.00, assuming a 10% annual return.

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Total Employer Contribution and Match Rate

In 2022, MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN allocates $245,535.00 to match its employees' contributions, providing an employer match rate of 83.58% of their contributions

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Total Retirement Plan Asset Growth Rate

In 2022, the total retirement plan asset growth rate of MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is -16.04%.

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2022, the estimated aggregate retirement account investment gain/loss for MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is -15.32%. This measures the effectiveness of the plan participants' investments in the year.

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN Expense Ratio

In 2022, the investment and administrative expense ratio of MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN is 0.80%.

Enrollment Features

MAGNUM INSURANCE AGENCY, INC. 401(K) PLAN has the following features:
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.

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