Plan Snapshot
- Plan Sponsor: Security First Bank
- Sponsor EIN: 470299375
- Sponsor Address: 1919 HOPE CT., RAPID CITY, SD, 57701
- Plan Type: 401(k)
- Total Participants: 282
- Total Assets: $29.7M
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 | 282 | $29.7M | $704,765 | $1.4M |
| 2023 | 270 | $25.9M | $467,825 | $1.3M |
| 2022 | 271 | $22.6M | $425,940 | $1.2M |
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 |
|---|---|---|---|---|
| KETEL THORSTENSON, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- KETEL THORSTENSON, 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 | $77,209 | $70,645 | — | — | — |
| 2023 | $66,515 | $62,224 | — | — | — |
| 2022 | $69,329 | $65,144 | — | — | — |