Lake Michigan Credit Union retirement plan: assets, participants and fees
What Lake Michigan Credit Union's retirement plan 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 | Cmfg Life Insurance Company | Schedule C ↗ |
| Independent auditor | Hungerford (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 170 pension plans in finance and insurance with 1,000 to 4,999 participants.
| Lake Michigan Credit Union: employer contribution per participant | $2,828 | |
| Peer median | $3,654 |
| Lake Michigan Credit Union: average balance | $28,783 | |
| Peer median | $111,548 |
| Lake Michigan Credit Union: admin expenses ÷ assets | 0.35% | |
| Peer median | 0.36% |
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 $45.1M at the end of plan year 2021 to $50.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,768 | $50.9M | $5M | $2,828 | 0.35% | Not published | Form 5500 ↗ |
| 2023 | 1,635 | $43.1M | — | — | 0.30% | Not published | Form 5500 ↗ |
| 2022 | 1,468 | $42M | $5M | $3,406 | 0.28% | Not published | Form 5500 ↗ |
| 2021 | 1,413 | $45.1M | $10M | $7,077 | 0.29% | Not published | Form 5500 ↗ |
Common questions
Does Lake Michigan Credit Union match 401(k) contributions?
The match terms for the Lake Michigan Credit Union Cash Balance Defined Benefit Plan and Trust have not been published from its filing yet. The plan year 2024 filing reports $5M in employer contributions, about $2,828 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Lake Michigan Credit Union 401(k) match vested?
The vesting schedule for the Lake Michigan Credit Union Cash Balance Defined Benefit Plan and Trust is not in the data published so far. Your Summary Plan Description states it.
Who manages the Lake Michigan Credit Union 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Cmfg Life Insurance Company. The plan administrator is Lake Michigan Credit Union.
I left Lake Michigan Credit Union. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Lake Michigan Credit Union, (616) 242-9790) or the recordkeeper, Cmfg Life Insurance Company. The Lake Michigan Credit Union old 401(k) page lists the contacts from every plan filing. Find an old Lake Michigan Credit Union 401(k)
Data from the public Form 5500 annual reports Lake Michigan Credit Union 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 Lake Michigan Credit Union. Not financial advice. Report a correction · Methodology