Plan Snapshot
- Plan Sponsor: First Reliance Bank
- Sponsor EIN: 582463842
- Sponsor Address: 2170 WEST PALMETTO ST., FLORENCE, SC, 29501
- Plan Type: 401(k)
- Total Participants: 179
- Total Assets: $16.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 179 | $16.8M | $370,872 | $1.1M |
| 2023 | 178 | $14.2M | $433,135 | $933,660 |
| 2022 | 183 | $12.3M | $374,284 | $1.0M |
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 |
|---|---|---|---|---|
| ELLIOTT DAVIS, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ELLIOTT DAVIS, LLC — Auditor
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 | $91,276 | $25,997 | — | — | — |
| 2023 | $35,477 | — | — | — | — |
| 2022 | $37,339 | — | — | — | $37,339 |