Board of Trustees, Michigan Laborers' Annuity FundMoney purchase plan
MICHIGAN LABORERS' ANNUITY FUND · LANSING, MI · plan year 2024
Reported admin expense ratio · 2024
0.62%
Peer grade: D· admin costs + employer contributions vs same-size plans · how grading works
Board of Trustees, Michigan Laborers' Annuity Fund reported $761,955 in plan administrative expenses for 2024: 0.62% of average plan assets, higher than ~90% of peers. Employer contributions averaged $1,788 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.
Across the 3 years on file its reported administrative ratio has held roughly steady near 0.62%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other construction employers. By assets it is the 221st-largest of 2,619 plans among Michigan employers on file, and the 501st of 5,337 in construction. active participation has shrunk from 21,709 to 5,315 since 2022.
Plan summary
Net assets, end of year$128,601,646
Participants with balances18,951
Active participants5,315
Employer contributions$9,502,828
Employee contributions—
Employer contribution per active participant$1,788
Average account balance$6,786
Benefits paid to participants$5,016,207
Plan auditUnmodified (clean) audit opinion
AuditorBENDA, GRACE, STULZ & COMPANY, P.C.
Plan history3
Yearassets · accounts · employer contribution
2024$128.6M · 18,951 accts · $9.5M emplr
2023$118.5M · 19,116 accts · $10.2M emplr
2022$100.0M · 31,691 accts · $8.6M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$243,346
Investment management$381,869
Audit (IQPA)$23,600
Trustee / custodial$3,336
Total administrative$761,955
Employer contributions to the Board of Trustees, Michigan Laborers' Annuity Fund plan · 2024
Employer contribution per active participant$1,788
Median for plans this size$3,635
2024$1,788 per active participant
2023$2,340 per active participant
2022$397 per active participant
Board of Trustees, Michigan Laborers' Annuity Fund's 2024 employer contribution ran below the $3,635 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.
What these fees cost you
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Recordkeeper by year2
2024WELFARE & PENSION ADMINISTRATION
2023TIC MIDWEST, WELFARE & PENSION ADMINISTRATION
This plan has changed recordkeepers within these filings. If you left Board of Trustees, Michigan Laborers' Annuity Fund before a switch, your account may sit at the earlier firm or in a rollover IRA. Looking for an account from a past job here? How to find an old 401(k).
Source: U.S. Department of Labor, Form 5500 series, EIN 383345443 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.