Overview

Plan Rating

BrightScope Rating
71
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (51)
Average in Peer Group (77)
Highest in Peer Group (91)

Plan Description

Retirement Plan for Michigan Credit Union Employees - 401k Savings Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 71. This plan is in the top 15% of plans for Total Plan Cost. Retirement Plan for Michigan Credit Union Employees - 401k Savings Plan currently has over 15,000 active participants and over $736.8M in plan assets.

Did you know?

For the average 401k participant, the 20 point difference between this plan's BrightScope Rating (71) and the top rated plan (91) could equate to:
13
Additional years of work
66,854
Lost 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. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2019
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address 38695 W Seven Mile Rd # 200
  • Location
    Livonia , MI
  • 48152-7097
  • Industry
    Credit Unions
  • Administrator
    Dennis Hanson
  • Sponsor
    Wendy Vadnais
  • Net Plan Assets
    $737,000,000
  • Total Participants
    15,000
  • Avg Account Balance
    $53,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Average
Salary Deferrals:
Average
Account Balance:
Average

Design

Total Plan Cost:
Low Fees
Company Generosity:
Average

Performance

Participation Rate:
Below Avg.
Salary Deferrals:
Below Avg.
Account Balance:
Below Avg.

Top Industry Articles

Investments

Investment Menu Stats

# of Investment Options

25

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Vanguard Group Target Retirement 38%
N/A
State Street S&P 500 Index 15%
N/A
Total Other Investments 9%
N/A
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Insurance Carrier
Jackson National Life
Insurance Carrier
Various
Insurance Carrier
Principal Financial Group
Insurance Carrier
Prudential
Insurance Carrier
New York Life
Insurance Carrier
Ohio National Life
Insurance Carrier
Mutual of Omaha Insurance Company
Insurance Carrier
Protective Life
Recordkeeper
CUNA Mutual Insurance Society
Investment Adviser
DiMeo Schneider & Associates, LLC
Legal Counsel
Warner, Norcross and Judd, LLP
Auditor
Doeren Mayhew Financial Services LLC

Articles and Questions

Boeing Plan Report (Updated)

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Why Do Investment Expenses Matter?
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