# Michigan Family Resources 401(k) Plan
Source: https://planprovider.pro/companies/michigan-family-resources-401k-plan

> Michigan Family Resources's 401(k) plan: 330 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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.](https://planprovider.pro/provider/intellicents-inc) — 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|—|—|—|

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