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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK2 years Service code 21 · EIN 37-0259550 | Bank Trustee | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $35,503 | $64,909-45.3% | $82,312-56.9% | $62,293-43.0% |
| Participation rate | 56.6% | 74.9%-18.3pp | 76.9%-20.3pp | 69.5%-13.0pp |
| Annual return | 15.22% | 21.18%-6.0pp | 25.88%-10.7pp | 28.90%-13.7pp |
| Employer contribution / active EE | $269 | $1,676-83.9% | $2,428-88.9% | $2,042-86.8% |
| Participant deferral / active EE | $2,040 | $3,103-34.3% | $3,706-45.0% | $3,169-35.6% |
| Admin fee / account holder | $300 | $440-31.7% | $5,608-94.6% | $479-37.4% |