Plan Snapshot
- Plan Sponsor: South Central Bank, INC.
- Sponsor EIN: 610126170
- Sponsor Address: P.O. BOX 2367, GLASGOW, KY, 42141
- Plan Type: 401(k)
- Total Participants: 273
- Total Assets: $18.6M
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 | 273 | $18.6M | $454,341 | $1.1M |
| 2023 | 260 | $16.4M | $433,705 | $1.0M |
| 2022 | 251 | $15.4M | $456,275 | $1.0M |
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 |
|---|---|---|---|---|
| PENSION CORPORATION OF AMERICA | Other Service Provider | $6,602 | $51,043 | $57,645 |
| PCA INVESTMENT ADVISORY SERVICES | Investment Advisor | $10,608 | — | $10,608 |
| CHARLES SCHWAB TRUST BANK | Recordkeeper | — | $7,700 | $7,700 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PCA INVESTMENT ADVISORY SERVICES — Investment Advisor
- CHARLES SCHWAB TRUST BANK — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $75,953
- Estimated Expense Ratio: 0.407% 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 | $17,211 | $10,608 | — | — | — |
| 2023 | $10,308 | $3,892 | — | — | — |
| 2022 | $10,713 | $4,138 | $6,575 | — | — |