Plan Snapshot
- Plan Sponsor: Michigan Family Resources
- Sponsor EIN: 382942671
- Sponsor Address: 2626 WALKER AVENUE, WALKER, MI, 49544
- Plan Type: 401(k)
- Total Participants: 330
- Total Assets: $21.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 330 | $21.2M | $1.6M | $486,777 |
| 2023 | 327 | $17.2M | $2.2M | $500,035 |
| 2022 | 269 | $14.1M | $1.8M | $465,456 |
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 |
|---|---|---|---|---|
| ALERUS FINANCIAL, N.A. | NONE | $42,303 | — | $42,303 |
| CHESME CAPITAL MANAGEMENT | NONE | $33,005 | — | $33,005 |
| CLARK, SCHAEFER, HACKETT & CO. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $75,308
- Estimated Expense Ratio: 0.356% 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 | $77,205 | $33,005 | $39,123 | — | — |
| 2023 | $66,943 | $34,321 | $26,001 | — | — |
| 2022 | $84,326 | $45,055 | — | — | — |