Joint Board of Trustees of Mi Reg Council of Carpenters Annuity FundMoney purchase plan
MICHIGAN REGIONAL COUNCIL OF CARPENTERS' ANNUITY FUND · TROY, MI · plan year 2024
Reported admin expense ratio · 2024
0.53%
Peer grade: D· admin costs + employer contributions vs same-size plans · how grading works
Joint Board of Trustees of Mi Reg Council of Carpenters Annuity Fund reported $2,711,391 in plan administrative expenses for 2024: 0.53% of average plan assets, higher than ~90% of peers. Employer contributions averaged $2,216 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 2 years on file its reported administrative ratio rose from 0.50% to 0.53%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other construction employers. By assets it is the 63rd-largest of 2,619 plans among Michigan employers on file, and the 133rd of 5,337 in construction.
Plan summary
Net assets, end of year$527,470,237
Participants with balances17,503
Active participants17,503
Employer contributions$38,786,923
Employee contributions—
Employer contribution per active participant$2,216
Average account balance$30,136
Benefits paid to participants$34,398,887
Plan auditUnmodified (clean) audit opinion
AuditorBULTYNCK & CO., P.L.L.C.
Plan history3
Yearassets · accounts · employer contribution
2024$527.5M · 17,503 accts · $38.8M emplr
2023$498.9M · 17,855 accts · $37.4M emplr
2022$436.9M · 17,454 accts · $33.9M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$372,490
Investment management$1,853,158
Audit (IQPA)$38,458
Trustee / custodial$76
Total administrative$2,711,391
Employer contributions to the Joint Board of Trustees of Mi Reg Council of Carpenters Annuity Fund plan · 2024
Employer contribution per active participant$2,216
Median for plans this size$4,294
2024$2,216 per active participant
2023$2,095 per active participant
2022$1,944 per active participant
Joint Board of Trustees of Mi Reg Council of Carpenters Annuity Fund's 2024 employer contribution ran below the $4,294 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.
Service providers · 202412
MORGAN STANLEY GLOBAL BANKING · Recordkeeping · Custodial$442,530
BENESYS, INC. · Accounting / audit · Claims processing$380,359
TIC INTERNATIONAL CORPORATION · Recordkeeping$6,501
ARISTOTLE CAPITAL MANAGEMENT · Custodial (securities) · Investment advisory (plan)$542,205
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Recordkeeper by year2
2024BENESYS, INC., Morgan Stanley, TIC INTERNATIONAL CORPORATION
2023BENESYS, INC., Morgan Stanley
This plan has changed recordkeepers within these filings. If you left Joint Board of Trustees of Mi Reg Council of Carpenters 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 383240423 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.