First Federal of Northern Michigan
58
Plan:
17
63
87
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 29 point difference between this plan's BrightScope Rating (58) and the top rated plan (87) could equate to:
[How is this calculated?]
[How is this calculated?]
15 additional years of work Up to $114,400 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
First Federal of Northern Michigan Employees' Savings and Profit Sharing Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 58. This plan is in the top 35% of plans for Investment Menu Quality. First Federal of Northern Michigan Employees' Savings and Profit Sharing Plan currently has over 100 active participants and over $2.0M in plan assets.
Retirement Plan Details
| Address |
100 S 2nd Ave
Alpena, MI 49707-2814 |
| Industry | Commercial Banking |
| Administrator | Joseph Gentry |
| Net Plan Assets | $1,980,000 |
| Total Participants | 110 |
| Avg Account Balance | $19,000 |
Compare Other Companies in Peer Group
| Jacksonville Bancorp | 67.2 |
| OneUnited Bank | 61.4 |
| Bank of the Carolinas | 57.8 |
| Community Shores Bank | 56.4 |
| Federal Trust Bank | 56.4 |
| Britton & Koontz Capital | 51.9 |
Comments