Plan Snapshot
- Plan Sponsor: Lake Michigan Credit Union
- Sponsor EIN: 381215360
- Sponsor Address: 5540 GLENWOOD HILLS PKWY SE, GRAND RAPIDS, MI, 495122044
- Plan Type: DB
- Total Participants: 1,370
- Total Assets: $50.9M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,370 | $50.9M | $5.0M | $0 |
| 2023 | 1,290 | $43.1M | $0 | $0 |
| 2022 | 1,154 | $42.0M | $5.0M | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| CMFG LIFE INSURANCE COMPANY | NONE | $116,725 | — | $116,725 |
| MEMBERS CAPITAL ADVISORS, INC. | NONE | $46,690 | — | $46,690 |
| HUNGERFORD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CMFG LIFE INSURANCE COMPANY — NONE
- HUNGERFORD — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $163,415
- Estimated Expense Ratio: 0.321% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $163,415 | $46,690 | $98,049 | — | — |
| 2023 | $126,406 | $36,116 | $75,844 | — | — |
| 2022 | $120,196 | $34,342 | $85,854 | — | — |