Plan Snapshot
- Plan Sponsor: Southern Bank And Trust Company
- Sponsor EIN: 560132260
- Sponsor Address: 116 EAST MAIN STREET, MOUNT OLIVE, NC, 28365
- Plan Type: DC
- Total Participants: 132
- Total Assets: $40.8M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 132 | $40.8M | $472,483 | $840,812 |
| 2023 | 152 | $37.1M | $503,892 | $937,369 |
| 2022 | 162 | $33.1M | $521,967 | $938,778 |
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 |
|---|---|---|---|---|
| FIRST-CITIZENS BANK & TRUST CO | NONE | $34,485 | — | $34,485 |
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $34,485
- Estimated Expense Ratio: 0.085% 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 | $34,485 | — | $26,770 | — | — |
| 2023 | $30,779 | — | $25,951 | — | — |
| 2022 | $33,136 | — | $33,136 | — | — |