401(k) · DOL Form 5500 · 2022

Magnifi Financial Credit Union 401(k) Plan

Data updated 2026-08-25

$39M
Total assets Below avg plan size
346
Participants Below avg headcount
86th
Percentile by assets National rank
$112,477
Avg per participant Below avg balance/head
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Official DOL plan name: Magnifi Financial 401(k) Plan & Trust · Sponsored by Magnifi Financial Credit Union · Minnesota · Finance & Insurance

$39M in assets, 346 participants

Magnifi Financial Credit Union's Magnifi Financial 401(k) Plan & Trust reported $39M in total assets and 346 participants in its 2022 DOL Form 5500 filing, ranking in the 86th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #7,134 in Finance & Insurance (9,261 peers)

Coverage in Minnesota

Magnifi Financial 401(k) Plan & Trust covers 346 participants in Minnesota, about 31% of the average Minnesota filer (state average ~1,126 per filing). Assets: $39M.

#7,134
in Finance & Insurance (9,261 peers)
-11.8%
assets change YoY
0.4×
vs typical plan assets (national mean)

The plan reported a net loss of $5M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Magnifi Financial 401(k) Plan & Trust's outsized position by total assets

Magnifi Financial 401(k) Plan & Trust vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$38,916,998 Top 14% higher than 86% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Magnifi Financial 401(k) Plan & Trust among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Magnifi Financial 401(k) Plan & Trust sits mid-pack in the medium band (346 participants).

DOL schedule card

Filing strip 410705136 · Magnifi Financial Credit Union PY 2022 · 401(k)

Magnifi Financial 401(k) Plan & Trust · $39M · 346 · 86th

  • SCH $39M
  • EBSA 346
  • PART 86th
  • TYPE 401(k)
  • NET near James Moore & Co., P.L. 401(k) Retirement Plan
  • BOOK ind #7134

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Minnesota →

Magnifi Financial 401(k) Plan & Trust in the asset neighbourhood

Magnifi Financial 401(k) Plan & TrustMagnifi Financial 401(k) Pla…$39MJames Moore & Co., P.L. 401(k) Retirement PlanJames Moore & Co., P.L. 401(…$39MJensen Precast 401(k) Profit Sharing PlanJensen Precast 401(k) Profit…$39MCatalyst Medical Group, PLLC Retirement PlanCatalyst Medical Group, PLLC…$39MAllied Mechanical Services, Inc. Profit Sharing and Retirement Savings PlanAllied Mechanical Services, …$39M
End-of-year total assets ($M) among Magnifi Financial 401(k) Plan & Trust and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2022.

Minnesota filing particulars

Total Assets (Beginning of Year)$44M
Net Assets (End of Year)$39M
Net Income-$5M
Employer EIN410705136
Plan Effective Date1998-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Magnifi Financial Credit Union)

Sponsor-wide plan assets over time

All Magnifi Financial Credit Union plans reported in each filing year

Latest sponsor-wide plan assets
$58M 48.17394188523997% vs 2022
2024 filing year
$30M$40M$50M$60M 202220232024 $38.9M $57.7M ▲ +48.2%
Year Plans Participants Total Assets
2022 1 346 $39M
2023 1 385 $48M
2024 1 385 $58M

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Magnifi Financial 401(k) Plan & Trust vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000500000 -505101520 Total assets ($B) Participants Magnifi Financial 401(k) Plan & Trust, Total assets ($B): 0.038916998 · Participants: 346Magnifi Financial 401(k) Plan & TrustUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 18.576379778 · Participants: 176886Unitedhealth Group 401(k) Savings PlanMedtronic Savings and Investment Plan (Also Known as the Medtronic 401(k) Plan), Total assets ($B): 12.198295 · Participants: 38825Medtronic Savings and Investment Plan (Also Known as the Medtronic 401(k) Plan)Target Corporation 401(k) Plan, Total assets ($B): 11.216824857 · Participants: 400422Target Corporation 401(k) Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 11.138527656 · Participants: 371593M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 8.266408521 · Participants: 67646U.S. Bank 401(k) Savings Plan
Magnifi Financial 401(k) Plan & Trust vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare Magnifi Financial 401(k) Plan & Trust side-by-side with 3 peers →

Magnifi Financial 401(k) Plan & Trust's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is James Moore & Co., P.L. 401(k) Retirement Plan in FL ($39M); by covered participants it is The International Companies Savings and Profit Sharing Plan in MO (346 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (346 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Magnifi Financial 401(k) Plan & Trust assets move in 2022? ▼
Magnifi Financial 401(k) Plan & Trust pulled back noticeably - down 11.8% during 2022, from $44M to $39M. Reported net income was -$5M.
How have Magnifi Financial Credit Union plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Magnifi Financial Credit Union's sponsor-wide assets grew 48.2%, from $39M to $58M.
Where does Magnifi Financial 401(k) Plan & Trust rank by assets among Form 5500 filers? ▼
Magnifi Financial 401(k) Plan & Trust ranks in the 86th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Magnifi Financial 401(k) Plan & Trust? ▼
Among 401(k) plans in other states, the closest by assets is James Moore & Co., P.L. 401(k) Retirement Plan in FL ($39M, 254 participants).
Which 401(k) plans cover a similar participant headcount to Magnifi Financial 401(k) Plan & Trust? ▼
Among 401(k) plans in other states, the closest by covered participants is The International Companies Savings and Profit Sharing Plan in MO (346 participants, $39M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410705136.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.