Plan Ledger DOL Form 5500 · updated monthly

Midwest Insurance Company401(k)

MIDWEST INSURANCE COMPANY 401K PROFIT SHARING PLAN · SPRINGFIELD, IL · plan year 2024

Employer contribution per participant · 2024
$3,680

Midwest Insurance Company's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $15,290,416 across 115 participant accounts, with employer contributions averaging $3,680 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Illinois (1,977th of 3,702), and 3,476th of 4,798 in finance & insurance. In 2024, employees put in $2.21 for every $1.00 the employer contributed; active participation has shrunk from 117 to 56 since 2022.

Plan summary
Net assets, end of year$15,290,416
Participants with balances115
Active participants56
Employer contributions$206,052
Employee contributions$456,293
Employer contribution per active participant$3,680
Average account balance$132,960
Benefits paid to participants$1,721,002
Plan auditUnmodified (clean) audit opinion
AuditorKERBER BECK & BRAECKEL
Plan history3
Yearassets · accounts · employer contribution
2024$15.3M · 115 accts · $206K emplr
2023$14.0M · 132 accts · $280K emplr
2022$11.9M · 133 accts · $286K emplr
The Midwest Insurance Company 401(k) match · 2024
Employer contribution per active participant$3,680
Median for plans this size$2,416
2024$3,680 per active participant
2023$4,518 per active participant
2022$2,440 per active participant

Midwest Insurance Company's 2024 employer contribution ran above the $2,416 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Similar plansFinance & Insurance · Illinois
The Mather Group, LLC IL$15.9M · 0.17%
Pra Events, Inc. IL$15.7M · 0.45%
Flanagan State Bank IL$14.7M · 0.33%
Abbott Laboratories Ees C/U IL$14.2M · 0.31%

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Source: U.S. Department of Labor, Form 5500 series, EIN 371370035 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.