401(k) · DOL Form 5500 · 2023

Magnifi Financial Credit Union 401(k) Plan

Data updated 2026-08-25

$48M
Total assets Below avg plan size
385
Participants Below avg headcount
85th
Percentile by assets National rank
$125,907
Avg per participant Near 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

$48M in assets, 385 participants

Magnifi Financial Credit Union's Magnifi Financial 401(k) Plan & Trust reported $48M in total assets and 385 participants in its 2023 DOL Form 5500 filing, ranking in the 85th 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.

  • #6,854 in Finance & Insurance (8,869 peers)

Coverage in Minnesota

Magnifi Financial 401(k) Plan & Trust covers 385 participants in Minnesota, about 34% of the average Minnesota filer (state average ~1,126 per filing). Assets: $48M.

#6,854
in Finance & Insurance (8,869 peers)
+24.6%
assets growth YoY
0.5×
vs typical plan assets (national mean)

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 2023 · DOL Form 5500

$48,474,286 Top 15% higher than 85% of 127,068 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 2023

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

Plan-year 2023 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 (385 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Magnifi Financial 401(k) Plan & Trust reported net income rose from -$5M in the plan year 2022 filing to $10M in the plan year 2023 filing.
  • Magnifi Financial 401(k) Plan & Trust end-of-year assets rose from $39M in the plan year 2022 filing to $48M in the plan year 2023 filing.
  • Magnifi Financial 401(k) Plan & Trust reported participants rose from 346 in the plan year 2022 filing to 385 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 410705136 · Magnifi Financial Credit Union PY 2023 · 401(k)

Magnifi Financial 401(k) Plan & Trust · $48M · 385 · 85th

  • PCT $48M
  • PCT 385
  • PCT 85th
  • PCT 401(k)
  • PCT near Epcor USA Inc. 401(k) Savings Plan
  • PCT ind #6854

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

Hudson Pacific Properties 401(k) PlanHudson Pacific Properties 40…$48MEpcor USA Inc. 401(k) Savings PlanEpcor USA Inc. 401(k) Saving…$48MMagnifi Financial 401(k) Plan & TrustMagnifi Financial 401(k) Pla…$48MDelta Dental of Rhode Island 401(k) Profit Sharing PlanDelta Dental of Rhode Island…$48MAbc of Delaware 401(k) Plan$48M
End-of-year total assets ($M) among Magnifi Financial 401(k) Plan & Trust and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$39M
Net Assets (End of Year)$48M
Net Income$10M
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 -50510152025 Total assets ($B) Participants Magnifi Financial 401(k) Plan & Trust, Total assets ($B): 0.048474286 · Participants: 385Magnifi Financial 401(k) Plan & TrustUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.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 Epcor USA Inc. 401(k) Savings Plan in AZ ($48M); by covered participants it is Star Cutter Company & Subsidiaries 401(k) Plan in MI (385 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($48M here).

Similar participant headcount

Nearest other-state filings by covered participants (385 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. 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 2023? ▼
Magnifi Financial 401(k) Plan & Trust grew sharply - up 24.6% during 2023, from $39M to $48M. Reported net income was $10M.
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 85th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (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 Epcor USA Inc. 401(k) Savings Plan in AZ ($48M, 452 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 Star Cutter Company & Subsidiaries 401(k) Plan in MI (385 participants, $34M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

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.