Midcontinent Communications DBA Midco 401(k) Review & Grade
Midco 401(k) Plan
Minneapolis, MNInformation1,720 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,098Employer $ per active participant
$5,344Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$179.1MNet plan assets, end of year
$80,658Average balance per account
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost11.5 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Information plans with 500–2,499 active participants (310 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 46th |
| Employee saving | 25th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Midcontinent Communications DBA Midco put in about $2,098 per active participant, below the typical peer ($2,829). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $3,609,467 |
| Participant (employee) contributions | $9,195,135 |
| Other contributions (incl. rollovers in) | $327,597 |
| Administrative expenses paid from the plan | $460,342 |
| Investment advisory & management fees | $92,443 |
| Benefits paid out | $33,516,258 |
| Net assets, start / end of year | $175.5M / $179.1M |
| Active participants, start / end of year | 1,689 / 1,752 |
| Participants with account balances | 2,221 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $354,406 reported compensation |
| NFP Retirement Inc | $92,275 reported compensation |
| Cliftonlarsonallen LLP | $13,943 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013113309NAL0001838720002, received 2025-10-13, EIN 41-1957148, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.