How much does Miedema Produce, Inc. contribute to its ESOP?

In 2023, employer contributions to the Miedema Produce, Inc. plan averaged $1,005 per active participant, below the $2,440 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Miedema Produce, Inc. 401(k)?

The average participant account balance was $108,688 for plan year 2023, based on 344 accounts.

Miedema Produce, Inc.ESOP

Name: Miedema Produce, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

MIEDEMA PRODUCE, INC. EMPLOYEE STOCK OWNERSHIP PLAN · HUDSONVILLE, MI · plan year 2023

Employer contribution per participant · 2023

$1,005

Miedema Produce, Inc.'s 2023 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 $37,388,706 across 344 participant accounts, with employer contributions averaging $1,005 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 26,779 comparable plans and shown alongside other retail trade employers. By assets it is the 654th-largest of 2,619 plans among Michigan employers on file, and the 842nd of 5,215 in retail trade. active participation has shrunk from 158 to 138 since 2022.

Plan summary
Net assets, end of year$37,388,706
Participants with balances344
Active participants138
Employer contributions$138,665
Employee contributions—
Employer contribution per active participant$1,005
Average account balance$108,688
Benefits paid to participants$808,806
Plan auditUnmodified (clean) audit opinion
AuditorBAKER HOLTZ

Plan history3

Yearassets · accounts · employer contribution

2024$36.8M · 352 accts

2023$37.4M · 344 accts · $139K emplr

2022$33.6M · 331 accts · $93K emplr

Employer contributions to the Miedema Produce, Inc. plan · 2023

Employer contribution per active participant$1,005

Median for plans this size$2,440

2023$1,005 per active participant

2022$588 per active participant

Miedema Produce, Inc.'s 2023 employer contribution ran below the $2,440 median for plans its size, in the bottom quarter of its peers. 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.

Recordkeeper by year2

2024CAPITAL GROUP RETIREMENT PLAN SVCS

2023CAPITAL GROUP RETIREMENT PLAN SVCS

Looking for an account from a past job here? How to find an old 401(k).

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

All plans at this employer2

MIEDEMA PRODUCE, INC. 401K RETIREMENT PLAN401(k)

MIEDEMA PRODUCE, INC. EMPLOYEE STOCK OWNERSHIP PLANESOP

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Source: U.S. Department of Labor, Form 5500 series, EIN 382201262 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.