Michigan Corporate Services, LLC 401(k) Review & Grade
Michigan Corporate Services, LLC 401(k) Retirement Plan
Grand Rapids, MIWholesale Trade708 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,257Employer $ per active participant
$6,795Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$112.9MNet plan assets, end of year
$117,514Average balance per account
Score breakdown
- Employer generosity42.4 / 5085th percentile for employer $ per participant
- Low cost18.0 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving11.6 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Wholesale Trade plans with 500–2,499 active participants (603 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 72th |
| Employee saving | 77th |
| Peers that auto-enroll | 53% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Michigan Corporate Services put in about $4,257 per active participant, more than the typical peer ($1,792). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $3,015,897 |
| Participant (employee) contributions | $4,814,445 |
| Other contributions (incl. rollovers in) | $87,674 |
| Administrative expenses paid from the plan | $119,478 |
| Investment advisory & management fees | $119,438 |
| Other admin expenses | $40 |
| Benefits paid out | $5,946,785 |
| Net assets, start / end of year | $106.4M / $112.9M |
| Active participants, start / end of year | 691 / 726 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $94,438 reported compensation |
| Fifth Third Bank | $25,000 reported compensation |
| Empower Financial Services | $40 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251128145006NAL0003886515001, received 2025-11-28, EIN 45-0527006, plan #001, plan year 2024-04-01 to 2025-03-31. Verify at efast.dol.gov.