Department of Labor filing

FRANK N. MAGID ASSOCIATES, INC

FRANK N. MAGID ASSOCIATES, INC. 401(K) PROFIT SHARING PLAN · For the plan year ended Dec 31, 2024

Public filing 2024 · received Sep 17, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

14filing comparison
out of 100

The filing trails many comparable plans on reported employer support and/or plan-paid administrative costs. This is a filing comparison, not a complete benefits score.

$Employer support

$507

Reported employer contributions per active participant.

Higher than about 12% of comparable plans

#People in the filing

Active participants reported for 2024.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$385 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 20% of comparable plans

↗Investment performance

Not available

Plan assets changed -0.9%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202414out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions12th percentileTypical peer $3,462 · based on 1,271 comparable plans

Lower reported administrative expense20th percentileTypical peer $184 · based on 1,343 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2024, FRANK N. MAGID ASSOCIATES, INC reported $38,000 in employer contributions across the plan and 75 active participants. That works out to $507 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy53%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendDown 55.0%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendDown 1.0%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context14/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $38,000
Participant contributions: $974,867
Other contributions: $128,369
Employer share of reported contributions: 3.8%
Beginning assets: $23,251,701
Ending assets: $23,048,186
Ending net assets: $23,048,186
Ending liabilities: $0
Total income: $4,420,605
Total expenses: $4,624,120
Administrative expenses: $64,727
Participant loans: $92,247

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$1,125

2023

$485

2024

$507

Plan-paid administrative expenses per participant

2022

$389

2023

$406

2024

$385

Active participants

2022

120

2023

103

2024

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$507	75	23M	20250917091620NAL0000147443001
2023	$485	103	23.3M	20241011144443NAL0011037635001
2022	$1,125	120	22.2M	20230908104617NAL0016289841001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 0.4%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 420894975-001

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Jan 1, 1978
Industry: Professional, scientific, and technical services
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2G2J2K2T3B3D3H

Current plan terms

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Filing ACK_ID20250917091620NAL0000147443001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗