Mmg Insurance Company 401(K) Retirement Savings Plan — Form 5500 plan (Mmg Insurance Company)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Mmg Insurance Company 401(K) Retirement Savings Plan is a benefit plan reported by Mmg Insurance Company under EIN 01-0021090 and plan number 002. The latest loaded filing year is 2023. The filing reports 314 participants and $48,581,783 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$48.6MPlan net assets, end of year$48,581,783
Participants314Covered participants reported
Assets / participant$154.7KComputed: assets ÷ participants$154,719 (computed)
Provider compensation$22.3K2 Schedule C provider row(s)$22,329
- Plan sponsor
- Mmg Insurance Company
- EIN
- 01-0021090
- Plan number
- 002
- Plan type
- 2
- Location
- Presque Isle, ME
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 314 | H, C | 20241002161254NAL0017244562003 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$48.6M total assets
Net assets$48.6MLiabilities—
Full reported line items
Net assets
- Total assets (EOY)
- $48,581,783
- Net assets (EOY)
- $48,581,783
- Net assets (BOY)
- $42,049,896
Income & contributions
- Employer contributions
- $1,540,213
- Participant contributions
- $2,173,841
- Total contributions
- $4,105,068
- Total income / additions
- $11,312,725
Expenses & distributions
- Benefits paid
- $4,712,171
- Administrative expenses
- $65,129
- Total expenses
- $4,780,838
- Net increase / (decrease)
- $6,531,887
Computed from reported fields
Reported ratios
Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.
41%59%
Employer 41%Participant 59%
Total expenses ÷ net assets10%Computed ratio
Benefits paid ÷ total income42%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Chester M. Kearney, Cpa | AUDITOR | $14,245 | not reported in the loaded dataset | 2023 |
| John Hancock Life Insurance Company | RECORDKEEPER | $8,084 | not reported in the loaded dataset | 2023 |