MidAmerica Administrative & Retirement Solutions, Inc.

What MidAmerica Administrative & Retirement Solutions, Inc. does

MidAmerica Administrative & Retirement Solutions, Inc. is a Lakeland, Florida-based third-party administrator founded in 1995 that provides employee benefits administration exclusively to U.S. public-sector employers (state, local, and government entities). The company is a subsidiary of U.S. Retirement & Benefits Partners, a diversified benefits conglomerate, and is currently being rebranded under the unified Daybright Financial identity alongside sister firm U.S. BENCOR. Its offerings fall into two product categories: Health & Welfare (Health Reimbursement Arrangements, Flexible Spending Accounts, and Other Post-Employment Benefit Trusts) and Retirement (Employer Sponsored Plans, Section 3121 FICA Alternative Plans, and Special Pay Plans).

The company's product surface is delivered through a web-based administrative platform that includes separate Participant and Sponsor login portals for employees and employer clients, respectively, plus a dedicated MidAmerica Journey portal for HRA resources and claims submission. The technology stack is described as a standard web platform for benefits management; no proprietary AI/ML, data analytics, or integration ecosystem is disclosed. The firm has 101–250 employees and relies on direct B2B sales to public-sector HR and benefits administrators, supplemented by a "Partner With Us" channel-referral program.

MidAmerica's business model is a subscription/recurring-fee administrative-services model with annual billing, generating revenue through fees for managing HRAs, FSAs, OPEB Trusts, and retirement plans on behalf of public employers. Pricing is quote-based and not publicly disclosed. The company's growth signals are thin: there are no public funding rounds, no M&A activity, no disclosed expansion into new geographies or verticals, and no product launch timeline beyond the MidAmerica Journey portal. The current strategic focus is a corporate-identity consolidation (rebrand to Daybright Financial) rather than an offensive growth initiative.

Name

MidAmerica Administrative & Retirement Solutions, Inc.

Legal name

MidAmerica Administrative & Retirement Solutions, LLC

Website

https://midamerica.biz

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

MidAmerica Administrative & Retirement Solutions, Inc. is a Lakeland, Florida-based third-party administrator, founded in 1995 and owned by U.S. Retirement & Benefits Partners, that administers Health & Welfare and Retirement benefit plans (HRAs, FSAs, OPEB Trusts, FICA Alternative and Special Pay plans) exclusively for U.S. public-sector employers.

Ownership category

akta.pro rank

Product category

Public Sector Employee Benefits Administration

NAICS

Insurance and Employee Benefit Funds (5251), Pension Funds (525110), Health and Welfare Funds (525120)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Benefits Administration & Total Rewards Outsourcing (BPACAKAE)

akta.pro secondary industries

Pensions & Retirement Benefits Administration (BPAIAKAA), Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK), Eligibility, Enrollment & Benefits Administration (HLAEALAH)

Keywords

• Employee benefits administration
• Public sector retirement plans
• FICA alternative plans
• Health reimbursement arrangements
• Government employer benefits

Headquarters

HQ city

Lakeland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Administrative Services: MidAmerica generates revenue through administrative fees for managing employee benefits programs for public sector employers, including Health Reimbursement Arrangements, Flexible Spending Accounts, and retirement plans.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

MidAmerica Administrative & Retirement Solutions, Inc. administers employee benefit programs for U.S. public sector employers, providing Health & Welfare solutions (Health Reimbursement Arrangements, Flexible Spending Accounts, Other Post-Employment Benefit Trusts) and Retirement solutions (Employer Sponsored Plans, 3121 FICA Alternative Plans, Special Pay Plans). The company delivers these services through a unified web-based platform with dedicated participant and sponsor portals.

Product overview

MidAmerica Administrative & Retirement Solutions, Inc. offers a unified platform of employee benefits solutions specifically designed for the public sector. The company's portfolio consists of two main product categories: Health & Welfare (including Health Reimbursement Arrangement, Flexible Spending Account, and Other Post-Employment Benefit Trusts) and Retirement (including Employer Sponsored Plan, 3121 FICA Alternative Plan, and Special Pay Plan). These products are accessible through participant and sponsor self-service portals, with MidAmerica Journey providing dedicated HRA resource access. The company is currently undergoing rebranding to become Daybright Financial as part of a unified rebrand of parent company U.S. Retirement & Benefits Partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Health Reimbursement Arrangement A health benefit account administered for public sector employers that allows them to reimburse employees tax-advantagedly for qualifying medical expenses, making health care more affordable and accessible.
• Flexible Spending Account A tax-advantaged benefit account administered for public sector employees that enables them to set aside pre-tax dollars to cover qualified medical and dependent care expenses.
• Other Post-Employment Benefit Trusts Trust solutions administered for public sector employers to manage other post-employment benefits (OPEB) for their employees.
• Employer Sponsored Plan Employer-sponsored retirement savings plan administered for public sector employees, designed to help them save for retirement while reducing time and cost to administer.
• 3121 FICA Alternative Plan A FICA alternative retirement plan administered for public sector employees that provides retirement benefits while potentially reducing employer FICA tax obligations under Section 3121.
• Special Pay Plan A retirement plan solution administered for public sector employees to manage special pay categories (e.g., unused sick/vacation leave) on a tax-favored basis.
• MidAmerica Journey Online self-service portal for participants to access HRA resources and manage their health reimbursement accounts.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• U.S. Retirement & Benefits Partners (Parent Company)coreOthersU.S. Retirement & Benefits Partners is the parent company of MidAmerica. The parent company has undergone a unified rebrand and is becoming Daybright Financial, which includes MidAmerica and U.S. BENCOR. MidAmerica is part of this rebranding initiative.
• Daybright FinancialcoreOthersDaybright Financial is the new unified brand for U.S. Retirement & Benefits Partners and all its firms including MidAmerica and U.S. BENCOR. The rebrand does not affect how customers contact or access their accounts.
• Public Sector EmployerscoreChannel Partner/ Reseller/ DistributorMidAmerica serves public sector employers as channel partners, providing benefits administration services including HRAs, FSAs, and retirement plans to government entities and their employees.

Recent moves3 records

Expansion highlights3 records

Direct peers

• MissionSquare Retirement: MissionSquare is a public-sector-focused retirement provider serving state and local government employees, directly competing with MidAmerica's 3121 FICA Alternative Plan and Special Pay Plan products.
• Pentegra Retirement Services: Pentegra provides retirement plan administration for public-sector and tax-exempt employers, including FICA Alternative solutions, making it a close peer to MidAmerica's retirement product line.
• Empower Retirement: Empower (formerly ICMA-RC) is a leading public-sector retirement plan administrator serving government employers, directly comparable to MidAmerica's retirement and FICA Alternative offerings for the same customer segment.
• VALIC (AIG Retirement Services): VALIC specializes in retirement plans for K-12, higher education, and public-sector employees, with comparable 457(b) and FICA-replacement product overlap to MidAmerica.
• Further: Further provides consumer-directed benefits including FSA, HRA, HSA, and commuter administration, competing head-on with MidAmerica's Health & Welfare product suite for public and private employer accounts.
• U.S. BENCOR: U.S. BENCOR is MidAmerica's sister company under U.S. Retirement & Benefits Partners/Daybright Financial, focused on public-sector retirement plan administration — the closest possible peer given shared ownership and customer base.
• Nationwide Retirement Solutions: Nationwide's NRS division administers supplemental retirement plans (IRC 457, FICA Alternative) specifically for public-sector employees, directly overlapping MidAmerica's retirement offerings.

Broad incumbents

• MissionSquare / Voya Institutional Plan Services: Voya Institutional Plan Services provides recordkeeping and administration for government retirement plans, competing in MidAmerica's market but as part of a much broader financial services platform.
• OneDigital: OneDigital is a large benefits brokerage and consulting firm with public-sector practice areas offering HRA, FSA, and retirement administration, serving as a broader incumbent alternative to MidAmerica.

Emerging players

• PlanSource Benefits Administration: PlanSource provides a cloud-based benefits administration platform for HRA, FSA, and other consumer-directed benefits, representing an emerging technology-led competitive threat to MidAmerica's web-based platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MidAmerica Administrative & Retirement Solutions, Inc.