Amerifirst Financial Corporation401(k)
AMERIFIRST FINANCIAL CORPORATION PROFIT SHARING AND RETIREMENT SAVINGS PLAN · KALAMAZOO, MI · plan year 2022
Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works
Amerifirst Financial Corporation reported $141,202 in plan administrative expenses for 2022: 0.53% of average plan assets, higher than ~75% of peers. Employer contributions averaged $875 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other finance & insurance employers. By assets it is the 899th-largest of 2,619 plans among Michigan employers on file, and 2,740th of 4,798 in finance & insurance. In 2022, employees put in $19.55 for every $1.00 the employer contributed.
Amerifirst Financial Corporation's 2022 employer contribution ran below the $2,266 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 382699549 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.