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Company:
Lake Michigan Credit Union
Plan:
Lake Michigan Credit Union 401k Plan
 

Lake Michigan Credit Union

64 Plan: Lake Michigan Credit Union 401k Plan

 
 
64
23
64
81
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 17 point difference between this plan's BrightScope Rating (64) and the top rated plan (81) could equate to:
[How is this calculated?]
8 additional years of work
Up to $107,500 in lost retirement savings.
The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.

 

Retirement Plan Description

Lake Michigan Credit Union 401k Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 64. Lake Michigan Credit Union 401k Plan currently has over 300 active participants and over $5.4M in plan assets.

 

 
Plan Component Ratings

 Retirement Plan Details

Address 4027 Lake Dr Se
Grand Rapids, MI 49546 
Industry Credit Unions
Administrator Nora Swart
Net Plan Assets $5,370,000
Total Participants 390
Avg Account Balance $14,000

 Compare Other Companies in Peer Group

Empower Federal Credit Union 69.8
Clearview Federal Credit Union 63.0
Western Federal Credit Union 61.5
Ascend Federal Credit Union 59.2
Chartway Federal Credit Union 54.9
SRP Federal Credit Union 53.0

 Top 3 Funds in this 401k

1. CUNA Target Retirement 2040 23%
2. CUNA Target Retirement 2030 21%
3. CUNA Stable Value Fund 15%

  Plan Service Providers

Insurance Carrier CUNA Mutual Insurance Society
Recordkeeper CUNA Mutual Insurance Society
Auditor Cindrich, Mahalak & Co.

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