Plan Snapshot
- Plan Sponsor: Midea America Corporation
- Sponsor EIN: 200487988
- Sponsor Address: 300 KIMBALL DR, PARSIPPANY, NJ, 070543818
- Plan Type: DC
- Total Participants: 335
- Total Assets: $21.1M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 335 | $21.1M | $1.5M | $3.1M |
| 2023 | 296 | $17.0M | $991,745 | $2.3M |
| 2022 | 227 | $11.2M | $690,071 | $1.6M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $56,336 | — | $56,336 |
| DOEREN MAYHEW ASSURANCE | OTHER SERVICES | — | $19,200 | $19,200 |
| RBC WEALTH MANAGEMENT | CONSULTANT | — | $6,800 | $6,800 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DOEREN MAYHEW ASSURANCE — OTHER SERVICES
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $82,336
- Estimated Expense Ratio: 0.390% 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 | $56,337 | — | $56,337 | — | — |
| 2023 | $44,763 | — | $44,763 | — | — |
| 2022 | $57,867 | — | $41,868 | — | $15,999 |