Plan Snapshot
- Plan Sponsor: Michigan Virtual University
- Sponsor EIN: 383414105
- Sponsor Address: 920 MUNICIPAL WAY, LANSING, MI, 489176872
- Plan Type: 403(b)
- Total Participants: 359
- Total Assets: $24.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- 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 | 359 | $24.0M | $723,060 | $856,505 |
| 2023 | 376 | $20.9M | $626,213 | $817,878 |
| 2022 | 69 | $17.1M | $932,278 | $798,275 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $53,966 | — | $53,966 |
| MMA SECURITIES LLC | INVESTMENT ADVISORY | — | $33,558 | $33,558 |
| NATIONAL BENEFIT SERVICES LLC | CONTRACT ADMINISTRATOR | $2,849 | $8,456 | $11,305 |
| MANER COSTERISAN | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MMA SECURITIES LLC — INVESTMENT ADVISORY
- MANER COSTERISAN — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $98,829
- Estimated Expense Ratio: 0.411% 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 | $56,815 | — | — | — | — |
| 2023 | $42,643 | — | — | — | — |
| 2022 | $33,127 | — | — | — | — |