Filed April 30, 2025
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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK6+ years Service code 13 · EIN 37-0259550 | Contract Administrator | $376,773 |
RETIREMENT DIRECT6+ years Service code 11 · EIN 91-2076699 | Actuarial | $19,081 |
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 | $99,396 | $176,471-43.7% | $95,964+3.6% | $90,274+10.1% |
| Participation rate | 99.7% | 86.6%+13.2pp | 77.1%+22.7pp | 73.4%+26.4pp |
| Annual return | 10.73% | 20.15%-9.4pp | 91.64%-80.9pp | 53.97%-43.2pp |
| Employer contribution / active EE | $4,550 | $2,783+63.5% | $2,541+79.0% | $2,523+80.3% |
| Participant deferral / active EE | $3,630 | $5,325-31.8% | $4,167-12.9% | $4,231-14.2% |
| Admin fee / account holder | $302 | $154+95.6% | $6,797-95.6% | $114+164.4% |