Retirement plan

THE AMERICAN LEGION-DEPARTMENT OF MICHIGAN PROFIT SHARING PLAN AND TRUST

Name: THE AMERICAN LEGION -DEPARTMENT OF MICHIGAN - THE AMERICAN LEGION-DEPARTMENT OF MICHIGAN PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: THE AMERICAN LEGION -DEPARTMENT OF MICHIGAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE AMERICAN LEGION-DEPARTMENT OF MICHIGAN PROFIT SHARING PLAN AND TRUST, THE AMERICAN LEGION -DEPARTMENT OF MICHIGAN

THE AMERICAN LEGION -DEPARTMENT OF MICHIGANEIN 38-0297670Plan #003PY 2023

212 N. VERLINDEN AVENUE, SUITE A - LANSING, MI 48915517-371-4720

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

+17.0% from 2022

Total participants

+12.0% from 2022

Average account balance

$67,690

+22.1% from 2022

Annual return

14.32%

+25.75 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.79M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$71K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

67.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$110K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$10847

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$66K

$2891 / participant

Other / not subdivided$66K100.0%

% of EOY assets

4.271%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,690

$96,678-30.0%

$86,640-21.9%

$139,466-51.5%

Participation rate

78.3%

74.4%+3.8pp

71.7%+6.6pp

80.3%-2.1pp

Annual return

14.32%

106.69%-92.4pp

592.52%-578.2pp

373.66%-359.3pp

Employer contribution / active EE

$1,459

$3,265-55.3%

$3,024-51.8%

$4,754-69.3%

Participant deferral / active EE

$2,453

$4,837-49.3%

$4,438-44.7%

$6,712-63.4%

Admin fee / account holder

$2,891

$6,410-54.9%

$5,616-48.5%

$11,409-74.7%

THE AMERICAN LEGION-DEPARTMENT OF MICHIGAN PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE AMERICAN LEGION-DEPARTMENT OF MICHIGAN PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion