# Southern Concrete Materials, INC. 401(k) Plan
Source: https://planprovider.pro/companies/southern-concrete-materials-inc-560663876-001

> Southern Concrete Materials, INC.'s 401(k) plan: 276 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Southern Concrete Materials, INC.

- **Sponsor EIN:** 560663876

- **Sponsor Address:** P.O. BOX 1040, SALISBURY, NC, 28144

- **Plan Type:** 401(k)

- **Plan Number:** 001

- **Total Participants:** 276

- **Total Assets:** $9.1M

## 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|276|$9.1M|$580,600|$993,911|

| 2023|280|$10.2M|$628,900|$955,208|

| 2022|268|$8.8M|$314,500|$955,034|

## 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|

| PRINCIPAL LIFE INSURANCE COMPANY|Recordkeeper|$50,896|—|$50,896|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $50,896

- **Estimated Expense Ratio:** 0.562% 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|$50,896|—|$50,896|—|—|

| 2023|$46,493|—|$46,493|—|—|

| 2022|$43,097|—|$43,097|—|—|

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