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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK4+ years Service code 21 · EIN 37-0259550 | Bank Trustee | $24,842 |
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $44,963 | $65,376-31.2% | $87,100-48.4% | $65,185-31.0% |
| Participation rate | 56.0% | 75.3%-19.3pp | 76.9%-20.8pp | 70.2%-14.2pp |
| Annual return | 22.77% | 31.27%-8.5pp | 28.19%-5.4pp | 29.38%-6.6pp |
| Employer contribution / active EE | $0 | $1,822-100.0% | $2,521-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $1,973 | $3,388-41.8% | $4,049-51.3% | $3,514-43.9% |
| Admin fee / account holder | $337 | $520-35.2% | $7,497-95.5% | $847-60.2% |