State retirement profile · Form 5500
According to DOL Form 5500 filings (plan year 2024), employer-sponsored 401(k), pension, and other retirement plans headquartered in Michigan report the totals below.
Data updated 2026-08-25
$419.4B across 4,220 plans
According to DOL Form 5500 filings (plan year 2024), Michigan has 4,220 employer-sponsored retirement plans holding $419.4B in total assets for 2,691,078 participants, ranking 12th nationally by plan assets, with 74% structured as 401(k)s and an average of $99M per plan.
The state in one line
Michigan hosts 4,220 employer-sponsored retirement plans holding $419.4B for 2,691,078 participants, the 12th-largest state by plan assets.
Michigan: 4,220 employer-sponsored plans (3,123 401(k)), $419.4B aggregate assets, 2,691,078 participants. Average plan: $99M; largest is General Motors Hourly-Rate Employees Pension Plan at $42.5B. Leading sector by assets: Manufacturing (62%). These figures aggregate the 4,220 Form 5500 filings Michigan sponsors submitted for plan year 2024, counted by sponsor headquarters rather than participant residence; a plan administered in Michigan can cover workers across several states, and the methodology page details that HQ-vs-residence distinction. DOL Form 5500 methodology + HQ-vs-residence caveats →
Among plans headquartered here, Manufacturing accounts for $260.8B across 1,069 filings, ahead of Construction at $33.4B. Sector mix is a Form 5500-derived signal: it reflects where sponsors file from, not where every participant lives.
DOL Form 5500 plan year 2024
Employee Stock Ownership Plans here hold $6.8B. ESOP density is uneven across states; when the count clears a meaningful floor, the ESOP ranking and industry pages are the better drill-downs than a 401(k)-only read.
DOL Form 5500 plan year 2024
Michigan ranks in the upper half by plan assets (#12 of 56). Its totals are large enough for industry-mix and largest-plan concentration to matter more than the headline alone.
DOL Form 5500 plan year 2024
Michigan's place in the national asset distribution
All states with reported Form 5500 plan assets · plan year 2024
$419,387,840,788 Top 20% higher than 80% of 56 states with reported plan assets
Dashed line + filled bar = this entry, among states with reported plan assets.
Source U.S. Department of Labor, EBSA Form 5500 public disclosure dataset · plan year 2024
Source: U.S. Department of Labor, EBSA Form 5500 public disclosure dataset · plan year 2024.
Top sectors by Form 5500 plan assets for sponsors headquartered here (plan year 2024).
| Industry | Plans | Assets |
|---|---|---|
| Manufacturing | 1,069 | $260.8B |
| Construction | 333 | $33.4B |
| Healthcare & Social Assistance | 541 | $29.2B |
| Finance & Insurance | 204 | $22.1B |
| Professional & Technical Services | 567 | $16.4B |
States ranked adjacent to Michigan by total retirement plan assets.
Two DOL Form 5500-derived peer sets for Michigan, each a different nationwide metric so the neighborhoods are not geographic containment (the asset-ranked nearby list above stays regional).
Nearest other states by reported employer plan filings (4,220 here).
Nearest other states by aggregate plan assets ($419.4B here).
Industry-mix reading
Ways to act on Michigan's numbers.
Source: U.S. Department of Labor, EBSA Form 5500 public disclosure dataset. Shows the top 25 plans by total assets headquartered in Michigan, out of 130,145 ERISA-covered plans nationally. Plan year 2024.
Source: DOL EFAST2 filing system (efast.dol.gov) - state is the plan sponsor's headquarters state as recorded on the Form 5500 filing.
Read our methodology - how this data is sourced, computed, and verified.