Industrial Magnetics, Inc 401(k) Plan: Login, Facts & Contact Information

Industrial Magnetics, Inc 401(k) Plan Facts

Plan name
IMI HOLDING CORPORATION 401(K) PROFIT SHARING PLAN
Plan type
401(k) with employer contributions and profit sharing
Plan sponsor
INDUSTRIAL MAGNETICS, INC.
Participants
309 (223 active employees)
Former employees with a balance
55
Plan assets
$28,638,131 at Dec 31, 2024
Average account balance
$100,838 across 284 accounts
Employer contributions
$605,641 in plan year 2024 (21% of all contributions)
Recordkeeper
Greenleaf Trust
Plan year
Jan 1, 2024 – Dec 31, 2024
Plan established
Dec 1, 1973
✓ Employer contributions— Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2024 (Jan 1, 2024 – Dec 31, 2024), filed Jul 31, 2025. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2024

  • $2.95 million went into the plan in contributions, $605,641 of it from the employer (21%).
  • $4.49 million was paid out to participants.
  • Investment and other income added $3.30 million.
  • Administrative expenses were $116,838, about $411 per account.

How the Industrial Magnetics, Inc 401(k) changed, 2019–2024

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
2019207$20.1 million$451,091$1.99 million
2020229$23.1 million$373,254$1.52 million
2021229$25.6 million$513,427$2.62 million
2022267$22.7 million$606,315$1.04 million
2023292$27.0 million$599,014$2.37 million
2024309$28.6 million$605,641$4.49 million

Industrial Magnetics, Inc 401(k) Contact Information

Phone
800-662-4638
Mailing address
1385 M-75 SOUTH, BOYNE CITY MI 497120080
Plan sponsor
INDUSTRIAL MAGNETICS, INC.
Employer identification number (EIN)
38-1684048
Plan number
001

Questions about the Industrial Magnetics, Inc 401(k)

Does Industrial Magnetics, Inc contribute to the 401(k)?

Yes. The plan reports an employer contribution arrangement. In plan year 2024 the employer contributed $605,641, 21% of all contributions.

Does the Industrial Magnetics, Inc 401(k) have automatic enrollment?

No. The plan does not report automatic enrollment; employees enroll themselves.

How many people are in the Industrial Magnetics, Inc 401(k) plan?

309 participants at the start of plan year 2024, 223 of them active employees, and 55 former employees who still had money in the plan.

What is the average 401(k) balance at Industrial Magnetics, Inc?

About $100,838 per account: $28.6 million in plan assets across 284 accounts with a balance at the end of plan year 2024.

Who manages the Industrial Magnetics, Inc 401(k) accounts?

GREENLEAF TRUST is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Industrial Magnetics, Inc. How do I access my 401(k)?

Your account stays with GREENLEAF TRUST after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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