Form 5500 · Employee benefit plan · WEST FARGO, ND
MAGNUM ELECTRIC, INC.
MAGNUM ELECTRIC, INC. of WEST FARGO, ND is a 359-participant construction employer whose group benefits are disclosed in its annual Form 5500 filing. Its broker of record is MARSH AND MCLENNAN AGENCY. Coverage is written through SANFORD HEALTH PLAN and 1 other carrier. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 41-1633269 · plan 501 · plan year 2025, filed May 14, 2026
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259 other employer plans in North Dakota have policy years ending in December. See the full list on the renewal calendar, or ask for it in Claude or ChatGPT.
How this plan is funded
Fully insured as reported
The filing reports medical coverage through an insurance contract on Schedule A, and no money paid for benefits by the plan itself.
Benefits declared on this filing
Also declared: death benefits.
Declared benefits are the plan’s own line 8b codes on Form 5500. “Not on Schedule A” means no insured contract for that line appears on this filing. That usually means the benefit is self-funded, or it sits under a different plan number.
Where a line has more than one insured contract, the carrier and the covered figure are the largest contract's by premium. The contracts are not added up: a pharmacy carve-out and the medical carrier beside it cover the same people.
Persons covered is the count the carrier filed for that policy at the end of its policy year, and it can include dependents. Participants is the plan's own count at the start of its plan year. The two count different people, so a covered figure can be larger.
Plan brief
Schedule A lists 2 insured contracts covering health, dental, vision, life and disability; the largest, with SANFORD HEALTH PLAN, covers 332 people.
Reported premium across the insured contracts is $1,635,352, with $95,148 in disclosed broker commissions — about 5.8% of premium.
The most recent policy period ended in December, and the plan year ends December 31. Group contracts typically renew on that annual cycle.
MARSH AND MCLENNAN AGENCY is the broker of record on all 2 contracts.
Two carriers split the book: SANFORD HEALTH PLAN and STANDARD INSURANCE COMPANY.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| STANDARD INSURANCE COMPANY | Health, Dental, Vision, Life, Disability | 547 | Jan 1, 2026 | $393,285 | $66,548 |
| SANFORD HEALTH PLAN | Health | 332 | Jan 1, 2026 | $1,242,067 | $28,600 |
Premium and claims on this contract
STANDARD INSURANCE COMPANY, contract 757249. For the contract year on this filing, the carrier reported $385,725 in premium earned and $226,949 in claims incurred. Dividing one by the other gives 59%.
- STANDARD INSURANCE COMPANY, contract 757249 reported $167,048 in retention.
Retention is what the carrier kept of the premium after claims, as reported: administration, commissions and other charges.
Only experience-rated contracts report these figures, so most filings leave them blank.
Covered = persons covered at policy year end, as filed on Schedule A for that policy — often certificates or one class, not the whole plan. Premium = the filing’s own premium/charges figure; “—” means not credibly reported.
Administrator and service providers
The plan administrator is from line 3a of the main form. We publish company names only.
Reported to OSHA
Reported to OSHA for 2025: 452 employees, 22 recordable cases, 7 days away from work.
Source: OSHA Injury Tracking Application establishment data, 2025.
Other plans filed by this employer
How this plan compares
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Renewal calendar
259 other employer plans in North Dakota are January 1 renewals (policy year ends December).
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