Michigan Turkey Producers 401(K) Savings Plan — Form 5500 plan (Michigan Turkey Producers)

Plain-English plan summary

According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Michigan Turkey Producers 401(K) Savings Plan is a benefit plan reported by Michigan Turkey Producers under EIN 38-3432559 and plan number 001. The latest loaded filing year is 2023. The filing reports 497 participants and $17,229,454 in end-of-year plan assets, where available in the loaded dataset.

Form 5500 plan profile · 2023

Key reported metrics

Net assets (EOY)$17.2MPlan net assets, end of year$17,229,454
Participants497Covered participants reported
Assets / participant$34.7KComputed: assets ÷ participants$34,667 (computed)
Provider compensation$5.8K1 Schedule C provider row(s)$5,772
Plan sponsor
Michigan Turkey Producers
EIN
38-3432559
Plan number
001
Plan type
2
Location
Grand Rapids, MI
Latest filing year
2023

Form 5500 filing history

Filings loaded for this plan
Filing yearParticipantsSchedulesFiling
2023497H, C20240926094130NAL0000899648001
Schedule H · 2023

Reported financial statement

Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.

Reported balance (end of year)$17.2M total assets
Net assets$17.2MLiabilities$0
Money in vs. money out
Total income / additions$3.9M
Total expenses$2.3M
Benefits paid / distributions$2.2M
Contributions
Employer$534.2K
Participant$966.5K
Full reported line items

Net assets

Total assets (EOY)
$17,229,454
Total liabilities (EOY)
$0
Net assets (EOY)
$17,229,454
Net assets (BOY)
$15,624,970

Income & contributions

Employer contributions
$534,182
Participant contributions
$966,457
Total contributions
$1,520,660
Total income / additions
$3,901,163

Expenses & distributions

Benefits paid
$2,198,917
Administrative expenses
$97,762
Total expenses
$2,296,679
Net increase / (decrease)
$1,604,484
Computed from reported fields

Reported ratios

Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.

Contribution share (employer vs. participant)
Employer 36%Participant 64%
Total expenses ÷ net assets13%Computed ratio
Benefits paid ÷ total income56%Computed ratio
Provider comp. ÷ net assets0%Computed ratio

Service provider compensation (Schedule C)

Reported service provider compensation
ProviderServiceDirect comp.Indirect comp.Year
John Hancock Life Insurance CompanyRECORDKEEPER$5,772$02023

Related Form 5500 pages