Plan Snapshot
- Plan Sponsor: Midland States Bank
- Sponsor EIN: 370259550
- Sponsor Address: 1201 NETWORK CENTRE DRIVE, EFFINGHAM, IL, 624014677
- Plan Type: 401(k)
- Total Participants: 898
- Total Assets: $127.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 898 | $127.0M | $2.0M | $5.9M |
| 2023 | 917 | $116.0M | $2.0M | $5.9M |
| 2022 | 938 | $97.2M | $1.8M | $6.0M |
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 | $111,810 | — | $111,810 |
| CLIFTONLARSONALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTONLARSONALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $111,810
- Estimated Expense Ratio: 0.088% 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 | $111,810 | — | $111,810 | — | — |
| 2023 | $107,203 | — | $107,203 | — | — |
| 2022 | $120,041 | — | $120,041 | — | — |