Motor City Electric Co.ESOP
MOTOR CITY ELECTRIC CO. EMPLOYEE STOCK OWNERSHIP PLAN · DETROIT, MI · plan year 2024
Motor City Electric Co.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $401,005,024 across 206 participant accounts, with employer contributions averaging $8,261 per active participant. See methodology for what Form 5500 does and doesn't capture.
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 82nd-largest of 2,619 plans among Michigan employers on file, and the 178th of 5,337 in construction. active participation has grown from 188 to 207 since 2022.
Motor City Electric Co.'s 2024 employer contribution ran above the $4,294 median for plans its size, placing it in the top 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.
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Source: U.S. Department of Labor, Form 5500 series, EIN 381405142 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.