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401K

 

Our Plans

Magna helps you save for life after work with a 401(k) retirement plan.

Here's how it works:

  • You’re automatically enrolled at 6% of your pay after 30 days.
  • You can change your savings amount anytime—even to 0%.
  • You can choose to save pre-tax, Roth after-tax, or voluntary after-tax.
  • You can save 1% to 50% of your pay each pay period.

*Union employee provisions may be different – Consult with your Collective Bargaining Agreement”

Magna helps you save more:

After 6 months, Magna gives you 3% of your pay—even if you don’t save anything.

Plus, Magna matches 50% of the first 6% you save. That’s free money for your future!