Michigan › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Amerisure Mutual Insurance Company Cash Balance Pension Plan
Sponsored by Amerisure Mutual Insurance Company, Farmington Hills, MI
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Amerisure Mutual Insurance Company of Farmington Hills, Michigan sponsors Amerisure Mutual Insurance Company Cash Balance Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 1,159 participants (358 active) and $86.9M in net assets.
Net assets came to $75,020 per participant, below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 7 service provider organisations paid $5,000 or more, with reported compensation of $575K: $496 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $698K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $66.8M in 2009 to $86.9M in 2024 (up 30%), and participants from 1,877 to 1,159 (down 38%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $75,020 | $87,935 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $7,849 | $10,244 |
| Schedule C compensation per participant | $496 | $325 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.66% | 0.41% | 0.32% | 0.42% |
| Administrative expenses per participant | $603 | $513 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), finance and insurance (690) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 1,159 | $86.9M | $75,020 | — | — | $575K |
| 2023 | 1,224 | $89.7M | $73,301 | — | — | $357K |
| 2022 | 1,286 | $85.5M | $66,511 | — | — | $420K |
| 2021 | 1,339 | $110M | $82,310 | — | — | $447K |
| 2020 | 1,392 | $104M | $74,506 | — | — | $373K |
| 2019 | 1,460 | $97.3M | $66,629 | $2.8M | — | $408K |
| 2018 | 1,544 | $86.8M | $56,246 | $700K | — | $531K |
| 2017 | 1,548 | $99.0M | $63,966 | $4.9M | — | $540K |
| 2016 | 1,541 | $88.8M | $57,606 | $2.7M | — | $500K |
| 2015 | 1,547 | $84.2M | $54,438 | $2.8M | — | $593K |
| 2014 | 1,542 | $89.6M | $58,126 | $2.6M | — | $791K |
| 2013 | 1,801 | $93.5M | $51,922 | $2.3M | — | $498K |
| 2012 | 1,792 | $79.5M | $44,343 | $2.4M | — | $466K |
| 2011 | 1,808 | $72.8M | $40,253 | $2.3M | — | $468K |
| 2010 | 1,826 | $73.2M | $40,090 | $2.5M | — | $379K |
| 2009 | 1,877 | $66.8M | $35,592 | $3.9M | — | $485K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$89,720,588
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$4,470,440
- Benefits paid$6,544,919
- Administrative expenses$698,397
- Total expenses$7,243,316
- Net income−$2,772,876
- Net transfers$0
- Net assets, end of year$86,947,712
Participants
- Active participants358
- Retired or separated, receiving benefits448
- Retired or separated, entitled to future benefits279
- Total participants, end of year1,159
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Legal & Gen Collective Invt TR | Investment management | $308,600 | $0 |
| Aon Consulting | Contract Administrator | $121,772 | $0 |
| Plante Moran PLLC | Accounting (including auditing) | $45,365 | $0 |
| Willis Towers Watson US LLC | Actuarial; Consulting (pension) | $34,200 | $0 |
| Principal Custody Solutions | Trustee (bank, trust company, or similar financial institution); Investment advisory (participants) | $23,044 | $0 |
| Silchester International | Investment management | $21,793 | $0 |
| Cardinal Investment Advisors LLC | Investment management | $20,000 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$350,392
- Other administrative expenses$123,624
- Contract administrator fees$121,772
- Trustee and custodial fees$68,409
- Actuarial fees$34,200
- Total administrative expenses$698,397
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$55.0M · 63.2%
- Registered investment companies (mutual funds)$30.5M · 35.1%
- Cash (interest and non-interest bearing)$1.4M · 1.6%
- Receivables$4,097 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPlante Moran PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524150: Direct Insurance (except Life, Health & Medical) Carriers.
Other plans of Amerisure Mutual Insurance Company
| Plan | Participants | Net assets |
|---|---|---|
| Amerisure Mutual Insurance Company 401(k) Savings Plan | 1,013 | $231M |
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Insurance Organizations Employees' Retirement Plan | Trustees of the Insurance Organizations' Pension Trust | 1,192 | $220M | $184,981 |
| Delta Dental Plan of Michigan, Inc. Retirement Income Plan | Delta Dental Plan of Michigan, Inc. | 1,135 | $395M | $347,811 |
| Lake Michigan Credit Union Cash Balance Defined Benefit Plan and Trust | Lake Michigan Credit Union | 1,768 | $50.9M | $28,783 |
| Delta Dental Plan of Michigan, Inc. Hourly Rated Pension Plan | Delta Dental Plan of Michigan, Inc. | 911 | $56.7M | $62,239 |
| Roofers Union Local 30 Combined Pension Fund | Joint Board of Trustees Roofers Local Union 30 | 2,548 | $171M | $67,099 |
| Health Alliance Plan Retirement Plan | Health Alliance Plan of Michigan | 656 | $52.0M | $79,275 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Amerisure Mutual Insurance Company Cash Balance Pension Plan?
1,159 participants at the end of the plan year ending 31 Dec 2024, of whom 358 were active employees, with net assets of $86,947,712. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Amerisure Mutual Insurance Company contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $574,774 in compensation to service provider organisations, $496 per participant or 0.66% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $698,397. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Amerisure Mutual Insurance Company. Recordkeeping or administration: Aon Consulting. Investment advisory or management: Legal & Gen Collective Invt TR, Principal Custody Solutions and Silchester International. Trustee or custodian: Principal Custody Solutions. The financial statements were audited by Plante Moran PLLC. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 3 Sep 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 38-0829210, plan 010, received 3 Sep 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.