The Governing Board of the Mi Independent Colleges and Universities403(b)

Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works

The Governing Board of the Mi Independent Colleges and Universities reported $1,093,660 in plan administrative expenses for 2024: 0.34% of average plan assets, higher than ~90% of peers. Employer contributions averaged $2,918 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 fell from 0.36% to 0.34%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other educational services employers. By assets it is the 98th-largest of 2,619 plans among Michigan employers on file, and the 173rd of 3,091 in educational services. In 2024, employees put in $1.02 for every $1.00 the employer contributed; active participation has grown from 1,221 to 1,396 since 2022.