# Salem Electric Company 401(k) Plan
Source: https://planprovider.pro/companies/salem-electric-company-inc-401k-plan

> Salem Electric Company's 401(k) plan: 164 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/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|—|—|

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