Retirement plan

MIDWEST FINANCIAL GROUP, INC. 401(K) PLAN

Name: MIDWEST FINANCIAL GROUP, INC. - MIDWEST FINANCIAL GROUP, INC. 401(K) PLAN (2017) Form 5500
Creator: MIDWEST FINANCIAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST FINANCIAL GROUP, INC. 401(K) PLAN, MIDWEST FINANCIAL GROUP, INC.

MIDWEST FINANCIAL GROUP, INC.EIN 35-1771856Plan #001PY 2017

9752 LANTERN ROAD - FISHERS, IN 460379612317-570-4400dougsweet.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$870K

+33.3% from 2016

Total participants

+20.0% from 2016

Average account balance

$145,009

+11.0% from 2016

Annual return

21.05%

+17.17 pp from 2016

Benchmarks

See 30,804 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,804 peers

Snapshot2017

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$2.11M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$302K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$93K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+19.24%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$29745

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

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Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$3K

$504 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.290%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$145,009

$171,865-15.6%

$149,718-3.1%

$147,584-1.7%

Participation rate

100.0%

88.2%+11.8pp

87.1%+12.9pp

82.8%+17.2pp

Annual return

21.05%

2113.22%-2092.2pp

1501.63%-1480.6pp

578.55%-557.5pp

Employer contribution / active EE

$4,002

$6,275-36.2%

$5,445-26.5%

$4,876-17.9%

Participant deferral / active EE

$11,928

$7,271+64.1%

$6,569+81.6%

$5,439+119.3%

Admin fee / account holder

$420

$13,799-97.0%

$11,283-96.3%

$10,885-96.1%

MIDWEST FINANCIAL GROUP, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST FINANCIAL GROUP, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion