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MAGIC TEXTILES, LLC RETIREMENT PLAN 401k Plan overview

Plan NameMAGIC TEXTILES, LLC RETIREMENT PLAN
Plan identification number 002

MAGIC TEXTILES, LLC RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

MAGIC TEXTILES, LLC has sponsored the creation of one or more 401k plans.

Company Name:MAGIC TEXTILES, LLC
Employer identification number (EIN):133923324
NAIC Classification:423990
NAIC Description:Other Miscellaneous Durable Goods Merchant Wholesalers

Additional information about MAGIC TEXTILES, LLC

Jurisdiction of Incorporation: New York Department of State
Incorporation Date: 1997-02-05
Company Identification Number: 2109774
Legal Registered Office Address: 261 FIFTH AVENUE
New York
NEW YORK
United States of America (USA)
10016

More information about MAGIC TEXTILES, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MAGIC TEXTILES, LLC RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01TARIQ OSMAN2024-05-10
0022022-01-01TARIQ OSMAN2023-05-11
0022021-01-01TARIQ OSMAN2022-05-12
0022020-01-01TARIQ OSMAN2021-08-03
0022019-01-01TARIQ OSMAN2020-07-21
0022018-01-01TARIQ OSMAN2019-08-26
0022017-01-01TARIQ OSMAN2018-10-03
0022016-01-01TARIQ OSMAN2017-08-09
0022015-01-01TARIQ OSMAN2016-08-31
0022014-01-01TARIQ OSMAN2015-10-07
0022013-01-01TARIQ OSMAN2014-10-01
0022012-01-01TARIQ OSMAN2013-07-30

Financial Data on MAGIC TEXTILES, LLC RETIREMENT PLAN

Measure Date Value
2025 : MAGIC TEXTILES, LLC RETIREMENT PLAN 2025 401k financial data
Net assets as of the end of the plan year2025-05-141087138
Total assets as of the beginning of the plan year2025-05-141038510
Value of participant loans at end of plan year2025-05-1434426
Other income to plan in this plan year2025-05-1448628
Plan net income in this plan year2025-05-1448628
Net assets as of the end of the plan year2025-05-141087138
Net assets as of the beginning of the plan year2025-05-141038510
2024 : MAGIC TEXTILES, LLC RETIREMENT PLAN 2024 401k financial data
Net assets as of the end of the plan year2024-05-091038510
Total assets as of the beginning of the plan year2024-05-091010064
Value of participant loans at end of plan year2024-05-0943138
Other income to plan in this plan year2024-05-0928446
Plan net income in this plan year2024-05-0928446
Net assets as of the end of the plan year2024-05-091038510
Net assets as of the beginning of the plan year2024-05-091010064

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