Plan Snapshot
- Plan Sponsor: Salem Electric Company
- Sponsor EIN: 560633616
- Sponsor Address: 3933 WESTPOINT BOULEVARD, WINSTON-SALEM, NC, 27103
- Plan Type: 401(k)
- Total Participants: 164
- Total Assets: $15.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 164 | $15.5M | $669,042 | $913,957 |
| 2023 | 197 | $14.7M | $585,133 | $761,974 |
| 2022 | 147 | $12.8M | $539,746 | $715,853 |
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 |
|---|---|---|---|---|
| RSM US LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RSM US LLP — 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 | $67,312 | $27,109 | $40,203 | — | — |
| 2023 | $57,940 | $22,816 | $35,124 | — | — |
| 2022 | $65,762 | $25,476 | $40,286 | — | — |