Plan Snapshot
- Plan Sponsor: Midamerican Energy Company
- Sponsor EIN: 421425214
- Sponsor Address: P.O. BOX 657, DES MOINES, IA, 503060657
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 4,711
- Total Assets: $309.2M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 4,711 | $309.2M | $64.9M | $24.1M |
| 2023 | 3,959 | $276.0M | $58.4M | $21.3M |
| 2022 | 3,753 | $243.0M | $53.9M | $18.4M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| WELLMARK BCBS OF IOWA | Other Service Provider | $1,928,931 | — | $1,928,931 |
| EXPRESS SCRIPTS | Other Service Provider | $1,279,584 | — | $1,279,584 |
| METROPOLITAN LIFE INSURANCE CO | Other Service Provider | $141,681 | — | $141,681 |
| COMPSYCH | Other Service Provider | $60,923 | — | $60,923 |
| VISION SERVICE PLAN | Other Service Provider | $59,222 | — | $59,222 |
| BENEFITBUMP | Other Service Provider | $46,380 | — | $46,380 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $3,516,721
- Estimated Expense Ratio: 1.137% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $5,698,244 | — | $3,904,090 | — | — |
| 2023 | $2,392,189 | — | $4,076,324 | — | — |
| 2022 | $4,105,070 | — | — | — | $3,572,213 |