# South Plains Financial, INC. 401(k) Plan
Source: https://planprovider.pro/companies/south-plains-financial-inc-401k-plan

> South Plains Financial, INC.'s 401(k) plan: 584 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/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|

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