Plan Snapshot
- Plan Sponsor: Southern Bancshares, INC.
- Sponsor EIN: 742224807
- Sponsor Address: 1616 SOUTH VOSS ROAD STE 700, HOUSTON, TX, 77057
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 137
- Total Assets: $21.8M
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 | 137 | $21.8M | $578,564 | $862,297 |
| 2023 | 136 | $18.7M | $612,797 | $927,901 |
| 2022 | 138 | $15.4M | $568,600 | $907,777 |
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 |
|---|---|---|---|---|
| SEIDEL SCHROEDER | Auditor | — | — | $0 |
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 | $3,062 | — | — | — | — |
| 2023 | $5,258 | $2,476 | — | — | — |
| 2022 | $3,397 | — | $3,397 | — | — |