Filed April 30, 2025
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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK5+ years Service code 13 · EIN 37-0259550 | Contract Administrator | $360,188 |
RETIREMENT DIRECT5+ years Service code 11 · EIN 91-2076699 | Actuarial | $17,780 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $99,262 | $105,173-5.6% | $87,103+14.0% | $77,775+27.6% |
| Participation rate | 98.8% | 85.8%+13.0pp | 76.9%+22.0pp | 73.2%+25.6pp |
| Annual return | 15.69% | 24.52%-8.8pp | 28.19%-12.5pp | 32.58%-16.9pp |
| Employer contribution / active EE | $4,774 | $2,890+65.2% | $2,521+89.3% | $2,504+90.7% |
| Participant deferral / active EE | $3,754 | $5,048-25.6% | $4,049-7.3% | $3,966-5.3% |
| Admin fee / account holder | $351 | $105+235.2% | $7,491-95.3% | $100+250.3% |