Magna International Employee Benefit: 401K Plan | Glassdoor

Magna International 401K Plan

58 employees reported this benefit

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Available to US-based employees (Change location)

Employee Comments

Showing 1–10 of 16
  • Oct 17, 2018
    StarStarStarStarStar Current Quality Engineer in Auburn Hills, Michigan

    They match 3% for every 6% you put in

  • Jul 02, 2018
    StarStarStarStarStar Current Employee in Grand Rapids, Michigan

    Magna makes a significant contribution in terms of 401k matching. I am currently investing the minimum amount to collect the maximum employer contribution and I will be ready for retirement at age 51.

  • Jun 18, 2017
    StarStarStarStarStar Former Employee in Holly, Michigan

    Not enough choices but there are targeted plans and no requirements to take company stock. The choices do allow diversification and adaptable levels of risk - they just aren't top performers.

  • Jan 27, 2017
    StarStarStarStarStar Current Purchasing Manager in Detroit, Michigan

    50% match on first 6%

  • Nov 29, 2016
    StarStarStarStarStar Current Technical Coordinator in New Hudson, Michigan

    standard matching for 401k. gives you a little control on how much to pay

  • May 22, 2016
    StarStarStarStarStar Former Department Manager in Boyne City, Michigan

    The 401 K plan was great no issues

  • May 13, 2016
    StarStarStarStarStar Former Assembler in Alto, Michigan

    they match 6 percent.

  • Mar 02, 2016
    StarStarStarStarStar Former Production Team Leader in Shepherdsville, Kentucky

    They use principle which has low cost fund options.

  • Sep 15, 2015
    StarStarStarStarStar Current Employee in Bowling Green, Ohio

    Dont know really, I just know i have it

  • Aug 18, 2015
    StarStarStarStarStar Current Recruiter in Troy, Michigan

    It's good. Some companies have less, some more. Probably in the 50th percentile

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