MID-AMERICA APARTMENT COMMUNITIES 6815 POPLAR AVENUE SUITE500 GERMANTOWN, TN 38138
What is the Summary Annual Report? .................................................................................................................................................................................................................. The Summary Annual Report (SAR) is a summary of a retirement plan's financial information. The following report provides a financial snapshot for MID-AMERICA APARTMENT COMMUNITIES, INC. EMPLOYEES' STOCK OWNERSHIP PLA N from January 01, 2023 through December 31, 2023. Its purpose is to summarize information on the plan's annual report for current participants, former participants with an account balance and/or beneficiaries of a participant. You are not required to take any action, but you can request a copy of the full annual report or any individual parts of the report at any time. The following SAR document contains information about: • Administrative expenses that the plan paid • The amount of benefits paid to participants and beneficiaries • The total value of plan assets • A pension plan's compliance with the minimum funding standards, if applicable • Your right to receive a copy or any part of the full annual report Have questions? We have answers. Log in to principal.com to access your plan statements. You'll also find valuable information about financial wellness and how you can plan for your best life in retirement. Summary Annual Report for MID-AMERICA APARTMENT COMMUNITIES, INC. EMPLOYEES' STOCK OWNERSHIP PLA N .................................................................................................................................................................................................................. This is a summary of the Form 5500 Annual Return/Report of Employee Benefit Plan of MID-AMERICA APARTMENT COMMUNITIES, INC. EMPLOYEES' STOCK OWNERSHIP PLA N, EIN 62 1543819, for January 01, 2023 through December 31, 2023. The Form 5500 annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA). Your plan is a single-employer Employee Stock Ownership plan. Basic financial statement Benefits under the plan are provided by a trust fund. Plan expenses were $668,689. These expenses included $0 in administrative expenses, $668,689 in benefits paid to participants and beneficiaries and $0 in other expenses. A total of 411 persons were participants in, or beneficiaries of, the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.
Contract number: 713939 | Production date: 07/29/2024
The value of plan assets, after subtracting liabilities of the plan, was $16,641,077 as of December 31, 2023, compared to $19,417,544 as of January 01, 2023. During the plan year, the plan experienced a decrease in its net assets of ($2,776,467). This decrease includes unrealized appreciation or depreciation in the value of the plan assets; that is, the difference between the value of plan's assets at the end of the year and the value of the assets at the beginning of the year or cost of assets acquired during the year. The plan had a total income of ($2,107,778), including employer contributions of $0, employee contributions of $0, gains of $0 from the sale of assets, and earnings from investments of ($2,107,778). Your rights to additional information You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report: • An accountant's report • Financial information and information on payments to service providers • Assets held for investment • Transactions in excess of 5 percent of the plan assets To obtain a copy of the full annual report, or any part thereof, write or call the office of the plan administrator: MID-AMERICA APARTMENT COMMUNITIES 6815 POPLAR AVENUE SUITE500 GERMANTOWN, TN 38138 (901)682-6600 The charge to cover copying costs will be $1.00 for the full annual report or $.10 per page for any part thereof. You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan: 6815 POPLAR AVENUE SUITE500 GERMANTOWN, TN 38138 and at the U.S. Department of Labor in Washington, D.C. or to obtain a copy from the U.S. Department of Labor upon payment of copying costs.
Requests to the Department of Labor should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.
Contract number: 713939 | Production date: 07/29/2024
The full annual report can also be found online at www.efast.dol.gov.
Paperwork Reduction Act Statement According to the Paperwork Reduction Act of 1995 (Pub. L. 104-13) (PRA), no persons are required to respond to a collection of information unless such collection displays a valid Office of Management and Budget (OMB) control number. The Department notes that a Federal agency cannot conduct or sponsor a collection of information unless it is approved by OMB under the PRA, and displays a currently valid OMB control number, and the public is not required to respond to a collection of information unless it displays a currently valid OMB control number. See 44 U.S.C. 3507. Also, notwithstanding any other provisions of law, no person shall be subject to penalty for failing to comply with a collection of information if the collection of information does not display a currently valid OMB control number. See 44 U.S.C. 3512. The public reporting burden for this collection of information is estimated to average less than one minute per notice (approximately 3 hours and 11 minutes per plan). Interested parties are encouraged to send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of the Chief Information Officer, Attention: Departmental Clearance Officer, 200 Constitution Avenue, N.W., Room N-1301, Washington, DC 20210 or email DOL_PRA_PUBLIC@dol.gov and reference the OMB Control Number 1210-0040. OMB Control Number 1210-0040 (expires 03/31/2026) Insurance products and plan administrative services provided through Principal Life Insurance Company ® , a member of the Principal Financial Group ® , Des Moines, IA 50392. Principal ® , Principal Financial Group ® and the Principal logo design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and service marks of Principal Financial Services, Inc., in various countries around the world.
PT746 | 3070580-082023 | 11/2019
Contract number: 713939 | Production date: 07/29/2024
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