Plan Snapshot
- Plan Sponsor: Claflin University
- Sponsor EIN: 570314374
- Sponsor Address: 400 MAGNOLIA STREET, ORANGEBURG, SC, 29115
- Plan Type: 403(b)
- Total Participants: 66
- Total Assets: $6.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 66 | $6.9M | $0 | $286,828 |
| 2023 | 71 | $6.7M | $0 | $274,318 |
| 2022 | 72 | $5.5M | $0 | $275,305 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| CHERRY BEKAERT LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $2,302 | $522 | — | — | — |
| 2023 | $1,403 | $260 | — | — | — |
| 2022 | $146 | — | — | — | — |