Michigan Sugar Company 401(k) Review & Grade
Michigan Sugar Company 401(k) Savings Plan
Bay City, MIManufacturing1,055 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,104Employer $ per active participant
$4,497Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$91.3MNet plan assets, end of year
$73,559Average balance per account
Score breakdown
- Employer generosity38.0 / 5076th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 65th |
| Employee saving | 44th |
| Peers that auto-enroll | 59% |
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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 Sugar put in about $4,104 per active participant, more than the typical peer ($2,320). 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.
- 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 | $4,330,009 |
| Participant (employee) contributions | $4,744,267 |
| Other contributions (incl. rollovers in) | $684,346 |
| Administrative expenses paid from the plan | $125,465 |
| Other admin expenses | $125,465 |
| Benefits paid out | $16,826,042 |
| Net assets, start / end of year | $87.5M / $91.3M |
| Active participants, start / end of year | 1,035 / 1,075 |
| Participants with account balances | 1,241 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Andrews Hooper Pavlik PLC |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $125,465 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003083548NAL0001154721001, received 2025-10-03, EIN 38-3561416, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.