Overview

Plan Rating

BrightScope Rating
68
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (55)
Average in Peer Group (73)
Highest in Peer Group (87)

Plan Description

Mid Penn Bank Retirement Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 68. This plan is in the top 35% of plans for Company Generosity and Salary Deferral. Mid Penn Bank Retirement Plan currently has over 400 active participants and over $15.6M in plan assets.

Did you know?

For the average 401k participant, the 19 point difference between this plan's BrightScope Rating (68) and the top rated plan (87) could equate to:
10
Additional years of work
117,729
Lost Savings
*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2019
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address 349 Union Street
  • Location
    Millersburg , PA
  • 17061-1611
  • Industry
    Commercial Banking
  • Administrator
    Roberta Hoffman
  • Sponsor
    Joseph Paese
  • Net Plan Assets
    $15,600,000
  • Total Participants
    480
  • Avg Account Balance
    $44,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Average Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Average
Salary Deferrals:
Above Average
Account Balance:
Average

Design

Total Plan Cost:
Average Fees
Company Generosity:
Average

Performance

Participation Rate:
Below Avg.
Salary Deferrals:
Average
Account Balance:
Below Avg.

Top Industry Articles

Investments

Investment Menu Stats

# of Investment Options

37

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Voya Financial (ING) Solutions 43%
N/A
Voya Fixed Account 9%
N/A
Voya Intermediate Bond 6%
N/A
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Insurance Carrier
Voya Financial (ING)
Investment Adviser
Morningstar Investment Mgmnt LLC
Investment Adviser
Voya Financial (ING)
Auditor
BDO Seidman, LLP

Articles and Questions

Boeing Plan Report (Updated)

Boeing Fee Settlement Highlights the High Bar for Large Plans

Boeing Offers a Near Perfect Retirement Plan ModelIn most respects Boeing’s retirement offering is a great model of how to run a large retirement plan. Participants in Boeing’s 401(k) plan are beneficiaries of a participant-friendly design with immediate access, automatic enrollment, immediate ves

Why Do Investment Expenses Matter?
Have a question about retirement plans?
Our community of registered financial advisors are standing by to share their experience.
Ask a question