Plan Snapshot
- Plan Sponsor: Coastal States Bank
- Sponsor EIN: 030546702
- Sponsor Address: 5 BOW CIRCLE, HILTON HEAD ISLAND, SC, 29928
- Plan Type: 401(k)
- Total Participants: 182
- Total Assets: $18.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 182 | $18.1M | $973,958 | $1.7M |
| 2023 | 176 | $14.9M | $840,166 | $1.4M |
| 2022 | 176 | $11.1M | $721,125 | $1.3M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $49,629 | — | $49,629 |
| ONEDIGITAL INVESTMENT ADVISORS | Investment Advisor | $32,862 | $1 | $32,863 |
| ORENDA RETIREMENT LLC | Recordkeeper | $8,192 | $14,461 | $22,653 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ONEDIGITAL INVESTMENT ADVISORS — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $105,145
- Estimated Expense Ratio: 0.581% of plan assets
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 | $90,763 | $32,862 | $57,821 | — | — |
| 2023 | $66,953 | $24,205 | $41,594 | $1,154 | — |
| 2022 | $76,832 | $25,970 | $39,863 | — | $10,999 |