Plan Snapshot
- Plan Sponsor: South Plains Financial, INC.
- Sponsor EIN: 752453320
- Sponsor Address: 5219 CITY BANK PARKWAY, LUBBOCK, TX, 79407
- Plan Type: 401(k)
- Total Participants: 584
- Total Assets: $50.2M
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 | 584 | $50.2M | $1.7M | $3.2M |
| 2023 | 600 | $45.2M | $1.8M | $3.3M |
| 2022 | 652 | $39.3M | $1.5M | $3.7M |
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 |
|---|---|---|---|---|
| ATLASMARK | INVESTMENT ADV | $180,044 | — | $180,044 |
| EMPLOYEE INCENTIVE PLANS, INC. | TPA, RECORDKEEPER | $52,858 | — | $52,858 |
| FIDELITY BROKERAGE SERVICES LLC | CUSTODIAN | $37,603 | — | $37,603 |
| CARR, RIGGS & INGRAM, LLC | AUDIT | $18,000 | — | $18,000 |
| RBMS, LLP | Auditor | $18,000 | — | $18,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RBMS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $306,505
- Estimated Expense Ratio: 0.610% 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 | $312,257 | $180,044 | — | $18,000 | — |
| 2023 | $383,159 | $61,496 | — | $19,004 | — |
| 2022 | $361,848 | $338,739 | $10,105 | — | $13,004 |