Filed April 30, 2025
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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK7+ years Service code 13 · EIN 37-0259550 | Contract Administrator | $0 |
RETIREMENT DIRECT7+ years Service code 11 · EIN 91-2076699 | Actuarial | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $121,028 | $144,879-16.5% | $111,308+8.7% | $93,010+30.1% |
| Participation rate | 0.0% | 86.1%-86.1pp | 77.3%-77.3pp | 73.9%-73.9pp |
| Annual return | 11.99% | 18.11%-6.1pp | 54.67%-42.7pp | 158.70%-146.7pp |
| Employer contribution / active EE | $4,501 | $3,052+47.5% | $2,732+64.8% | $2,705+66.4% |
| Participant deferral / active EE | $3,589 | $5,576-35.6% | $4,487-20.0% | $4,561-21.3% |
| Admin fee / account holder | $361 | $104+248.7% | $7,965-95.5% | $152+138.0% |