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MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameMIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN
Plan identification number 001

MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

MIDWEST FINANCIAL PARTNERS INVESTMENTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:MIDWEST FINANCIAL PARTNERS INVESTMENTS, INC.
Employer identification number (EIN):411021581
NAIC Classification:523900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JOHN GLOMSKI2023-04-19
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01JOHN GLOMSKI
0012017-01-01JOHN GLOMSKI
0012016-01-01JOHN GLOMSKI2017-07-20
0012015-01-01JOHN GLOMSKI2016-07-21
0012014-01-01JOHN GLOMSKI2015-07-14
0012013-01-01JOHN GLOMSKI2014-06-26

Plan Statistics for MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN

Measure Date Value
2021: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0120
Total number of active participants reported on line 7a of the Form 55002021-01-0121
Number of retired or separated participants receiving benefits2021-01-012
Number of other retired or separated participants entitled to future benefits2021-01-010
Total of all active and inactive participants2021-01-0123
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0123
Number of participants with account balances2021-01-0123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0119
Total number of active participants reported on line 7a of the Form 55002020-01-0118
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-012
Total of all active and inactive participants2020-01-0120
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0120
Number of participants with account balances2020-01-0120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0119
Total number of active participants reported on line 7a of the Form 55002019-01-0118
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-011
Total of all active and inactive participants2019-01-0119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0119
Number of participants with account balances2019-01-0119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0118
Total number of active participants reported on line 7a of the Form 55002018-01-0117
Number of retired or separated participants receiving benefits2018-01-012
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-0119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0119
Number of participants with account balances2018-01-0119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0114
Total number of active participants reported on line 7a of the Form 55002017-01-0116
Number of retired or separated participants receiving benefits2017-01-012
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-0118
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0118
Number of participants with account balances2017-01-0118
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-011

Financial Data on MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN

Measure Date Value
2021 : MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2021 401k financial data
Total income from all sources2021-12-31$888,566
Expenses. Total of all expenses incurred2021-12-31$16,616
Benefits paid (including direct rollovers)2021-12-31$15,265
Total plan assets at end of year2021-12-31$4,911,058
Total plan assets at beginning of year2021-12-31$4,039,108
Value of fidelity bond covering the plan2021-12-31$500,000
Total contributions received or receivable from participants2021-12-31$182,533
Other income received2021-12-31$466,000
Net income (gross income less expenses)2021-12-31$871,950
Net plan assets at end of year (total assets less liabilities)2021-12-31$4,911,058
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$4,039,108
Total contributions received or receivable from employer(s)2021-12-31$240,033
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$1,351
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2020 401k financial data
Total income from all sources2020-12-31$1,019,018
Expenses. Total of all expenses incurred2020-12-31$9,827
Benefits paid (including direct rollovers)2020-12-31$6,101
Total plan assets at end of year2020-12-31$4,039,108
Total plan assets at beginning of year2020-12-31$3,029,917
Value of fidelity bond covering the plan2020-12-31$2,500,000
Total contributions received or receivable from participants2020-12-31$127,956
Other income received2020-12-31$661,669
Net income (gross income less expenses)2020-12-31$1,009,191
Net plan assets at end of year (total assets less liabilities)2020-12-31$4,039,108
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$3,029,917
Total contributions received or receivable from employer(s)2020-12-31$229,393
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$3,726
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2019 401k financial data
Total income from all sources2019-12-31$869,176
Expenses. Total of all expenses incurred2019-12-31$10,678
Benefits paid (including direct rollovers)2019-12-31$5,808
Total plan assets at end of year2019-12-31$3,029,917
Total plan assets at beginning of year2019-12-31$2,171,419
Value of fidelity bond covering the plan2019-12-31$2,000,000
Total contributions received or receivable from participants2019-12-31$102,718
Other income received2019-12-31$528,509
Net income (gross income less expenses)2019-12-31$858,498
Net plan assets at end of year (total assets less liabilities)2019-12-31$3,029,917
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,171,419
Total contributions received or receivable from employer(s)2019-12-31$237,949
Value of corrective distributions2019-12-31$195
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$4,675
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2018 401k financial data
Total income from all sources2018-12-31$189,982
Expenses. Total of all expenses incurred2018-12-31$153,967
Benefits paid (including direct rollovers)2018-12-31$150,581
Total plan assets at end of year2018-12-31$2,171,419
Total plan assets at beginning of year2018-12-31$2,135,404
Value of fidelity bond covering the plan2018-12-31$217,142
Total contributions received or receivable from participants2018-12-31$145,049
Other income received2018-12-31$-178,356
Net income (gross income less expenses)2018-12-31$36,015
Net plan assets at end of year (total assets less liabilities)2018-12-31$2,171,419
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$2,135,404
Total contributions received or receivable from employer(s)2018-12-31$223,289
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$3,386
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2017 401k financial data
Total income from all sources2017-12-31$557,088
Expenses. Total of all expenses incurred2017-12-31$77,771
Benefits paid (including direct rollovers)2017-12-31$74,900
Total plan assets at end of year2017-12-31$2,135,404
Total plan assets at beginning of year2017-12-31$1,656,087
Value of fidelity bond covering the plan2017-12-31$150,000
Total contributions received or receivable from participants2017-12-31$84,681
Contributions received from other sources (not participants or employers)2017-12-31$5,286
Other income received2017-12-31$328,069
Net income (gross income less expenses)2017-12-31$479,317
Net plan assets at end of year (total assets less liabilities)2017-12-31$2,135,404
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,656,087
Total contributions received or receivable from employer(s)2017-12-31$139,052
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$2,871
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0

Form 5500 Responses for MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN

2021: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: MIDWEST FINANCIAL PARTNERS 401(K) PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )
Policy contract number513469-000
Policy instance 1
Insurance contract or identification number513469-000
Number of Individuals Covered19
Insurance policy start date2019-07-10
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $2,750
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $0
Amount paid for insurance broker fees2750
Additional information about fees paid to insurance brokerTPA
Insurance broker organization code?5

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