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MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 401k Plan overview

Plan NameMIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST
Plan identification number 001

MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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.

401k Sponsoring company profile

MIDLAND FINANCIAL SERVIES LLC has sponsored the creation of one or more 401k plans.

Company Name:MIDLAND FINANCIAL SERVIES LLC
Employer identification number (EIN):474392610
NAIC Classification:561440
NAIC Description:Collection Agencies

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JASON SAMER2024-04-17
0012022-01-01JASON SAMER2023-03-29
0012021-01-01JASON SAMER2022-03-31
0012020-01-01JASON SAMER2021-06-02
0012018-01-01JASON SAMER2019-06-17
0012017-01-01JASON SAMER2018-07-26
0012016-01-01JASON SAMER2017-06-27
0012015-01-01JASON SAMER2016-06-23

Plan Statistics for MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST

401k plan membership statisitcs for MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2025: MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2025 401k membership
Total number of particpants at beginning of year2025-10-1430
Total number of particpants at end of year2025-10-1432
Number of Participants With Account Balances2025-10-1432
2024: MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2024 401k membership
Total number of particpants at beginning of year2024-04-1733
Total number of particpants at end of year2024-04-1730
Number of Participants With Account Balances2024-04-1730
2022: MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2022 401k membership
Total number of particpants at beginning of year2022-03-3125
Total number of particpants at end of year2022-03-3129
Number of Participants With Account Balances2022-03-3129

Financial Data on MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2025 : MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2025 401k financial data
Total transfers to/from plan in this plan year2025-10-140
Total liabilities as of the end of the plan year2025-10-140
Total liabilities as of the beginning of the plan year2025-10-140
Total expenses incurred by plan in this plan year2025-10-148436
Net assets as of the end of the plan year2025-10-14380864
Total assets as of the beginning of the plan year2025-10-14307003
Value of plan covered by a fidelity bond2025-10-140
Participant contributions to plan in this plan year2025-10-1435427
Value of participant loans at end of plan year2025-10-1414670
Other expenses paid from plan in this plan year2025-10-140
Other contributions to plan in this plan year2025-10-140
Other income to plan in this plan year2025-10-1433413
Plan net income in this plan year2025-10-1473861
Net assets as of the end of the plan year2025-10-14380864
Net assets as of the beginning of the plan year2025-10-14307003
Employer contributions to plan in this plan year2025-10-1413457
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-144230
2024 : MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2024 401k financial data
Total transfers to/from plan in this plan year2024-04-170
Total liabilities as of the end of the plan year2024-04-170
Total liabilities as of the beginning of the plan year2024-04-170
Total expenses incurred by plan in this plan year2024-04-1737936
Net assets as of the end of the plan year2024-04-17307003
Total assets as of the beginning of the plan year2024-04-17249803
Participant contributions to plan in this plan year2024-04-1741885
Value of participant loans at end of plan year2024-04-1719007
Other expenses paid from plan in this plan year2024-04-170
Other contributions to plan in this plan year2024-04-170
Other income to plan in this plan year2024-04-1737083
Plan net income in this plan year2024-04-1757200
Net assets as of the end of the plan year2024-04-17307003
Net assets as of the beginning of the plan year2024-04-17249803
Employer contributions to plan in this plan year2024-04-1716168
Expensese paid to adminstrative service provicers from plan in this plan year2024-04-172219
2022 : MIDLAND FINANCIAL SERVICES LLC 401 K PROFIT SHARING PLAN TRUST 2022 401k financial data
Total transfers to/from plan in this plan year2022-03-310
Total liabilities as of the end of the plan year2022-03-310
Total liabilities as of the beginning of the plan year2022-03-310
Total expenses incurred by plan in this plan year2022-03-3119585
Net assets as of the end of the plan year2022-03-31261858
Total assets as of the beginning of the plan year2022-03-31201030
Participant contributions to plan in this plan year2022-03-3132385
Value of participant loans at end of plan year2022-03-3129448
Other expenses paid from plan in this plan year2022-03-310
Other contributions to plan in this plan year2022-03-310
Other income to plan in this plan year2022-03-3136471
Plan net income in this plan year2022-03-3160828
Net assets as of the end of the plan year2022-03-31261858
Net assets as of the beginning of the plan year2022-03-31201030
Employer contributions to plan in this plan year2022-03-3111557
Expensese paid to adminstrative service provicers from plan in this plan year2022-03-311528

Potentially related plans

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