# Southern Bancshares, INC. 401(k) Plan
Source: https://planprovider.pro/companies/southern-bancshares-inc-401k-plan

> Southern Bancshares, INC.'s 401(k) plan: 137 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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)

- **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|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [SEIDEL SCHROEDER](https://planprovider.pro/provider/seidel-schroeder) — 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|$3,062|—|—|—|—|

| 2023|$5,258|$2,476|—|—|—|

| 2022|$3,397|—|$3,397|—|—|

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