reesecc:
If you are really interested in some meaningful comments and ideas on you problem, it would be interesting to know a bit more about what you are trying to accomplish or what’s driving the sketch you have shown. It’s good to have shown a sketch, but without more detail, one immediately begins to wonder, why is he trying so hard to make his problem difficult.
If you are concerned about circular plate stress and deflection, why on earth would you use a 60" bolt circle? Why not 24" or less? With 10 - 1.5" bolts, what is the load P? You will have multi-axial stress concentrations at the four corners of the pulling lugs, a tearing stress, as they are so unsymmetrical wrt the bolt circle and the rest of the lug connection. This is also an area on the lug/plate weld which is difficult to make and prone to stress raisers in the weld itself. BA’s idea of a large pipe welded to the circular plate at least gives you a symmetric and relatively uniform loading between the bolt circle and the pulling load. Then, as he suggests, you can detail the actual lifting lug inside the stiffening pipe. All of these connections and load paths are much more easily rationalized.
Why not make your lifting lug 20 or 24" long, weld it to the plate, and put 5 bolts equally spaced, on either side of the lug about 3" from the lug. Then you basically have a cantilever on each side of the pulling lug, and the rest of the plate can be any shape you want. You didn’t indicate that there is really anything going on out there at the 72" circle.