2023 Form 5500 filing — Merchants Financial Group, Inc. 401(K) Savings Plan
Plain-English filing 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, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241015120930NAL0014581795001) for Merchants Financial Group, Inc. 401(K) Savings Plan, reported by Merchants Financial Group, Inc. under EIN 41-1504721 and plan number 002. It reports 649 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015120930NAL0014581795001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Merchants Financial Group, Inc.
- EIN
- 41-1504721
- Plan number
- 002
- Location
- Winona, MN
- Participants
- 649
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $60,073,091
- Total liabilities (EOY)
- $3,860
- Net assets (EOY)
- $60,069,231
- Employer contributions
- $125,428
- Participant contributions
- $2,479,930
- Total income / additions
- $12,573,394
- Benefits paid
- $4,989,727
- Administrative expenses
- $11,484
- Total expenses
- $5,005,549
- Net increase / (decrease)
- $7,567,845
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Merchants Bank National Association | NONE | $11,484 | $0 |
| Charles Schwab Trust Bank | NONE | $0 | $7,501 |