# Live Oak Banking Company 401(k) Plan
Source: https://planprovider.pro/companies/live-oak-banking-company-401k-plan

> Live Oak Banking Company's 401(k) plan: 1,037 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/fidelity-investments) — RECORDKEEPER

- [STRATEGIC ADVISORS, INC.](https://planprovider.pro/provider/creative-planning) — ADVISOR

- [KPMG LLP](https://planprovider.pro/provider/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|—|—|—|

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