Plan Snapshot
- Plan Sponsor: Southern Maryland Electric Coop.
- Sponsor EIN: 520492367
- Sponsor Address: 15035 BURNT STORE RD, HUGHESVILLE, MD, 20637
- Plan Type: 401(k)
- Total Participants: 312
- Total Assets: $70.3M
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 | 312 | $70.3M | $2.6M | $2.6M |
| 2023 | 313 | $63.8M | $2.1M | $2.4M |
| 2022 | 293 | $54.6M | $2.1M | $2.2M |
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 |
|---|---|---|---|---|
| NFP RETIREMENT INC | Investment Advisor | $40,000 | — | $40,000 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $39,271 | — | $39,271 |
| VENABLE LLP | ERISA Attorney | $11,399 | — | $11,399 |
| ADAMS JENKINS & CHEATHAM, PC | Other Service Provider | $7,500 | — | $7,500 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- VENABLE LLP — ERISA Attorney
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $98,170
- Estimated Expense Ratio: 0.140% 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 | $98,195 | $40,000 | $9,596 | — | — |
| 2023 | $77,757 | $40,000 | $37,182 | — | — |
| 2022 | $124,571 | $19,167 | $85,459 | — | $15,530 |