# South Atlantic Bank 401(k) Plan
Source: https://planprovider.pro/companies/south-atlantic-bank-401k-plan

> South Atlantic Bank's 401(k) plan: 153 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** South Atlantic Bank

- **Sponsor EIN:** 261366826

- **Sponsor Address:** 630 29TH AVE NORTH, MYRTLE BEACH, SC, 29577

- **Plan Type:** 401(k)

- **Total Participants:** 153

- **Total Assets:** $23.6M

## 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|153|$23.6M|$819,138|$1.0M|

| 2023|157|$18.7M|$655,854|$986,157|

| 2022|142|$14.5M|$695,303|$861,547|

## 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|

| ELLIOTT DAVIS|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [ELLIOTT DAVIS](https://planprovider.pro/provider/elliott-davis-llc) — 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|$3,001|—|—|—|—|

| 2023|$5,161|—|—|—|—|

| 2022|$4,963|—|$810|—|$4,153|

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