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| Provider | Service type | Compensation |
|---|---|---|
MIDLAND STATES BANK8+ years Service code 21 · EIN 37-0259550 | Bank Trustee | $61,227 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $60,192 | $65,453-8.0% | $86,691-30.6% | $66,930-10.1% |
| Participation rate | 77.0% | 75.5%+1.6pp | 76.6%+0.5pp | 69.8%+7.2pp |
| Annual return | -15.62% | -10.89%-4.7pp | 35.94%-51.6pp | 1.57%-17.2pp |
| Employer contribution / active EE | $725 | $2,154-66.3% | $2,837-74.4% | $2,545-71.5% |
| Participant deferral / active EE | $2,730 | $4,102-33.4% | $4,656-41.4% | $4,238-35.6% |
| Admin fee / account holder | $358 | $642-44.3% | $7,492-95.2% | $593-39.7% |