Plan Snapshot
- Plan Sponsor: Midwest Family Mutual Insurance Company
- Sponsor EIN: 410417260
- Sponsor Address: 12130 MEREDITH DRIVE STE 230W, URBANDALE, IA, 50323
- Plan Type: 401(k)
- Total Participants: 145
- Total Assets: $19.1M
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 | 145 | $19.1M | $423,918 | $1.2M |
| 2023 | 136 | $17.0M | $391,152 | $1.0M |
| 2022 | 130 | $14.6M | $354,125 | $972,980 |
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 | Recordkeeper | $68,497 | — | $68,497 |
| PRINCIPAL SECURITIES INC | Other Service Provider | — | $25,257 | $25,257 |
| MIDWEST FAMILY MUTUAL | Other Service Provider | $10,000 | — | $10,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $103,754
- Estimated Expense Ratio: 0.544% 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 | $78,497 | — | $68,497 | — | — |
| 2023 | $64,955 | — | $57,456 | $7,499 | — |
| 2022 | $54,318 | — | $54,318 | — | — |