Retirement plan

MI AFL-CIO W.D.I. SEVERANCE BENEFIT PLAN

Name: MICHIGAN STATE AFL-CIO WORKFORCE DEVELOPMENT INSTITUTE - MI AFL-CIO W.D.I. SEVERANCE BENEFIT PLAN (2024) Form 5500
Creator: MICHIGAN STATE AFL-CIO WORKFORCE DEVELOPMENT INSTITUTE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MI AFL-CIO W.D.I. SEVERANCE BENEFIT PLAN, MICHIGAN STATE AFL-CIO WORKFORCE DEVELOPMENT INSTITUTE

MICHIGAN STATE AFL-CIO WORKFORCE DEVELOPMENT INSTITUTEEIN 38-2795791Plan #001PY 2024

419 WASHINGTON SQUARE SOUTH, SUITE 300 - LANSING, MI 48933517-499-6647

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.5M

+6.9% from 2023

Total participants

+14.3% from 2023

Average account balance

$27,495

-1.4% from 2023

Annual return

7.93%

-1.05 pp from 2023

Benchmarks

See 10,657 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,657 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.47M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$401K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+7.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4863

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 codes2E2F2G2J2T3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$438K

$7294 / participant

Other / not subdivided$438K100.0%

% of EOY assets

17.687%

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

$27,495

$58,275-52.8%

$81,844-66.4%

$80,935-66.0%

Participation rate

90.0%

63.5%+26.5pp

72.4%+17.6pp

67.7%+22.3pp

Annual return

7.93%

41.82%-33.9pp

778.87%-770.9pp

35.66%-27.7pp

Employer contribution / active EE

$5,697

$2,346+142.9%

$2,916+95.3%

$2,757+106.7%

Participant deferral / active EE

$981

$3,285-70.1%

$4,323-77.3%

$4,299-77.2%

Admin fee / account holder

$4,863

$4,749+2.4%

$7,355-33.9%

$6,924-29.8%

MI AFL-CIO W.D.I. SEVERANCE BENEFIT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MI AFL-CIO W.D.I. SEVERANCE BENEFIT PLAN

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