First Bank Upper Michigan 401(k) match, vesting and fees
What First Bank Upper Michigan's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Security National Bank | Schedule C ↗ |
| Independent auditor | Andrews Hooper Pavlik Plc (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 3,409 defined-contribution plans in finance and insurance with 100 to 499 participants.
| First Bank Upper Michigan: employer contribution per participant | $2,311 | |
| Peer median | $2,868 |
| First Bank Upper Michigan: average balance | $163,919 | |
| Peer median | $95,281 |
| First Bank Upper Michigan: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.22% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $26.5M at the end of plan year 2021 to $29M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 178 | $29M | $409K | $2,311 | 0.04% | Not published | Form 5500 ↗ |
| 2023 | 190 | $25.9M | $421K | $2,254 | <0.01% | Not published | Form 5500 ↗ |
| 2022 | 184 | $22.1M | $393K | $2,185 | <0.01% | Not published | Form 5500 ↗ |
| 2021 | 186 | $26.5M | $353K | $1,941 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does First Bank Upper Michigan match 401(k) contributions?
The match terms for the First Bank Upper Michigan Def Comp P/S have not been published from its filing yet. The plan year 2024 filing reports $409K in employer contributions, about $2,311 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the First Bank Upper Michigan 401(k) match vested?
The vesting schedule for the First Bank Upper Michigan Def Comp P/S is not in the data published so far. Your Summary Plan Description states it.
Who manages the First Bank Upper Michigan 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Security National Bank. The plan administrator is First Bank Upper Michigan.
I left First Bank Upper Michigan. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (First Bank Upper Michigan, (906) 428-3535) or the recordkeeper, Security National Bank. The First Bank Upper Michigan old 401(k) page lists the contacts from every plan filing. Find an old First Bank Upper Michigan 401(k)
Data from the public Form 5500 annual reports First Bank Upper Michigan filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with First Bank Upper Michigan. Not financial advice. Report a correction · Methodology