Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Mag Savings Plan is a benefit plan reported by Mag Aerospace Industries, LLC under EIN 26-3112085 and plan number 002. The latest loaded filing year is 2023. The filing reports 358 participants and $60,928,226 in end-of-year plan assets, where available in the loaded dataset.
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $60,928,226
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $60,928,226
- Net assets (BOY)
- $53,088,846
Income & contributions
- Employer contributions
- $1,177,120
- Participant contributions
- $1,964,022
- Total contributions
- $3,266,418
- Total income / additions
- $12,596,927
Expenses & distributions
- Benefits paid
- $4,717,259
- Administrative expenses
- $39,258
- Total expenses
- $4,757,547
- Net increase / (decrease)
- $7,839,380