Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › MAG Mutual Insurance
MAG Mutual Insurance 401(k)
- Finance and insurance
- Atlanta, GA
- EIN 58-1449198
- 1 plan with Schedule H financials
- Plan year 2024
- MAG Mutual Insurance Co.
- filed as MAG Mutual Insurance Company
Administrative expenses excluding investment management, per participant · MAG Mutual Insurance Company 401(k) Plan · plan year 2024
$14.99
Higher than 9% of the 8,758 plans $50 to 250M that report it.
Source
= $9,142 / 610
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250925112054NAL0003493443001, received 2025-09-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250925112054NAL0003493443001, received 2025-09-25
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-09-25.
Cost and contributions
Administrative expenses per participant
$14.99
Higher than 5% of the 9,042 plans $50 to 250M that report it.
Source
= $9,142 / 610
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250925112054NAL0003493443001, received 2025-09-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250925112054NAL0003493443001, received 2025-09-25
Administrative expenses as a share of assets
0.014%
Higher than 7% of the 9,049 plans $50 to 250M that report it.
Source
= $9,142 / $63,780,756
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250925112054NAL0003493443001, received 2025-09-25
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250925112054NAL0003493443001, received 2025-09-25
Employer contributions per participant
$4,357
Higher than 72% of the 9,105 plans $50 to 250M that report it.
Source
= $2,657,797 / 610
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250925112054NAL0003493443001, received 2025-09-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250925112054NAL0003493443001, received 2025-09-25
Employer share of total contributions
27.8%
Higher than 44% of the 9,112 plans $50 to 250M that report it.
Source
= $2,657,797 / $9,544,774
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250925112054NAL0003493443001, received 2025-09-25
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250925112054NAL0003493443001, received 2025-09-25
Plan terms, as stated in MAG Mutual Insurance Co.'s SEC filings
Plan terms are not published in public filings.
Plan features
2A age/service-weighted · 2E profit-sharing · 3D IRS pre-approved plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2F ERISA 404(c) plan · 2T default investment (QDIA) · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250925112054NAL0003493443001, received 2025-09-25
Full record, MAG Mutual Insurance Company 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | MAG MUTUAL INSURANCE COMPANY | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Plan name | MAG MUTUAL INSURANCE COMPANY 401K PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Sponsor EIN / plan number | 58-1449198 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Sponsor location | ATLANTA, GA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Industry (business code) | 524210, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Filing received | 2025-09-25 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Participants, beginning of year | 574 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Active participants | 426 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Participants, end of year | 630 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Participants with an account balance | 610 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total assets, beginning of year | $51,495,883 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total assets, end of year | $63,780,756 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Net assets, end of year | $63,780,756 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total income | $17,188,997 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Net income | $12,284,873 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Employer contributions | $2,657,797 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Participant contributions | $4,539,237 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Other contributions (incl. rollovers) | $2,347,740 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total contributions | $9,544,774 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Benefit payments | $4,894,982 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total expenses (incl. benefit payments) | $4,904,124 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Total administrative expenses | $9,142 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Contract administrator fees | $9,142 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Administrative expenses excluding investment management | $9,142 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Held in common/collective trusts | $974,582 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Held in mutual funds | $62,252,086 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250925112054NAL0003493443001, received 2025-09-25 |
| Independent auditor | FRAZIER & DEETER | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250925112054NAL0003493443001, received 2025-09-25 |
Position = column in the DOL layout for form year 2024. Filing 20250925112054NAL0003493443001, received 2025-09-25.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| NEWPORT GROUP, INC.recordkeeper | RECORDKEEPER | 37 Participant loan processing; 99 Other fees; 50 Direct payment from the plan; 15 Recordkeeping and information management | $9,142 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250925112054NAL0003493443001, received 2025-09-25.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $51,495,883 | $63,780,756 | 23.9% |
| Participants with a balance | 539 | 610 | 13.2% |
| Administrative expenses | $34,097 | $9,142 | -73.2% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,932,875 | $2,657,797 | 37.5% |
Prior filing 20241015120859NAL0016332451001, received 2024-10-15; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: MAG MUTUAL INSURANCE COMPANY; SEC registrant: MAG Mutual Insurance Co. (CIK 1711208, matched by EIN).