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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK7+ years Service code 21 · EIN 37-0259550 | Bank Trustee | $20,438 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,282 | $65,435-40.0% | $86,677-54.7% | $66,914-41.3% |
| Participation rate | 52.3% | 75.5%-23.2pp | 76.6%-24.3pp | 69.8%-17.6pp |
| Annual return | -21.58% | -10.89%-10.7pp | 35.91%-57.5pp | 1.58%-23.2pp |
| Employer contribution / active EE | $0 | $2,153-100.0% | $2,836-100.0% | $2,544-100.0% |
| Participant deferral / active EE | $2,542 | $4,100-38.0% | $4,656-45.4% | $4,237-40.0% |
| Admin fee / account holder | $364 | $642-43.3% | $7,493-95.1% | $593-38.7% |