Plan Snapshot
- Plan Sponsor: South Banking Company
- Sponsor EIN: 581418696
- Sponsor Address: 501 WEST 12TH STREET, ALMA, GA, 31510
- Plan Type: 401(k)
- Total Participants: 140
- Total Assets: $15.8M
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 | 140 | $15.8M | $112,195 | $603,898 |
| 2023 | 144 | $13.6M | $103,468 | $571,961 |
| 2022 | 135 | $13.2M | $102,728 | $522,599 |
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 |
|---|---|---|---|---|
| WARREN AVERETT LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WARREN AVERETT 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 | $18,872 | $18,872 | — | — | — |
| 2023 | $17,800 | $17,800 | — | — | — |
| 2022 | $15,447 | — | — | — | $15,447 |