Plan Snapshot
- Plan Sponsor: Live Oak Banking Company
- Sponsor EIN: 800182298
- Sponsor Address: 1741 TIBURON DR, WILMINGTON, NC, 28403
- Plan Type: 401(k)
- Total Participants: 1,037
- Total Assets: $130.0M
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: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,037 | $130.0M | $6.9M | $9.6M |
| 2023 | 954 | $104.0M | $6.5M | $9.4M |
| 2022 | 968 | $74.0M | $6.6M | $8.9M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $74,594 | — | $74,594 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $22,220 | — | $22,220 |
| KPMG LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- STRATEGIC ADVISORS, INC. — ADVISOR
- KPMG LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $96,814
- Estimated Expense Ratio: 0.075% 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 | $96,814 | $22,220 | — | — | — |
| 2023 | $86,582 | $19,462 | — | — | — |
| 2022 | $69,952 | $10,992 | — | — | — |