Magnolia Personnel Group, LLC 401(k) Review & Grade
Magnolia Personnel Group 401(k) Plan
Woodway, TXAdministrative, Support & Staffing Services524 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,572Employer $ per active participant
$2,293Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$12.5MNet plan assets, end of year
$35,150Average balance per account
Score breakdown
- Employer generosity35.9 / 5072th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving8.4 / 1556th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score54 / 100 · Grade C
This plan vs. peers
Peers: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 28th |
| Employee saving | 56th |
| Peers that auto-enroll | 27% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Magnolia Personnel Group put in about $1,572 per active participant, more than the typical peer ($712). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.43% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $824,599 |
| Participant (employee) contributions | $1,202,678 |
| Other contributions (incl. rollovers in) | $115,867 |
| Administrative expenses paid from the plan | $48,009 |
| Benefits paid out | $1,086,766 |
| Net assets, start / end of year | $9.8M / $12.5M |
| Active participants, start / end of year | 565 / 484 |
| Participants with account balances | 355 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Jaynes, Reitmeier, Boyd & Therell |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $43,709 reported compensation |
| Pattillo, Brown & Hill, LLP | $8,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015064605NAL0008035426001, received 2025-10-15, EIN 81-1765241, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.