Plan Snapshot
- Plan Sponsor: Security State Bancshares, INC.
- Sponsor EIN: 621421082
- Sponsor Address: PO BOX 99, CHARLESTON, MO, 63834
- Plan Type: 401(k)
- Total Participants: 171
- Total Assets: $17.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 171 | $17.0M | $523,865 | $626,884 |
| 2023 | 179 | $15.1M | $510,286 | $606,035 |
| 2022 | 178 | $13.2M | $481,710 | $557,727 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $134,439 | — | $134,439 |
| CETERA INVESTMENT ADVISERS LLC | Investment Advisor | — | $58,864 | $58,864 |
| BENEFIT PLANS PLUS LLC | Recordkeeper | $3,650 | $6,382 | $10,032 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $203,335
- Estimated Expense Ratio: 1.197% 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 | $138,089 | — | $138,089 | — | — |
| 2023 | $95,934 | — | $95,934 | — | — |
| 2022 | $89,730 | — | $89,730 | — | — |