# Southminster, INC. 401(k) Plan
Source: https://planprovider.pro/companies/southminster-inc-401k-plan

> Southminster, INC.'s 401(k) plan: 431 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Southminster, INC.

- **Sponsor EIN:** 561443222

- **Sponsor Address:** 8919 PARK ROAD, CHARLOTTE, NC, 28210

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

- **Total Participants:** 431

- **Total Assets:** $13.3M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** Yes

- **Allows Roth Contributions:** No

- **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|431|$13.3M|$495,253|$762,985|

| 2023|429|$11.8M|$466,937|$706,673|

| 2022|402|$10.3M|$447,227|$709,615|

## 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|CONTRACT ADMINISTRATOR|$85,916|—|$85,916|

| KESTRA INVESTMENT SERVICES LLC|INVESTMENT ADVISORY|—|$32,874|$32,874|

| MAXUS PLAN SOLUTIONS, INC.|CONTRACT ADMINISTRATOR|—|$6,610|$6,610|

| ELLIOTT GROUP CPAS, PLLC|Auditor|—|—|$0|

### Verified Provider Profiles

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

- [KESTRA INVESTMENT SERVICES LLC](https://planprovider.pro/provider/sentinel-group) — INVESTMENT ADVISORY

- [ELLIOTT GROUP CPAS, PLLC](https://planprovider.pro/provider/elliott-group-cpas-pllc) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $125,400

- **Estimated Expense Ratio:** 0.946% 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|$85,852|—|—|—|—|

| 2023|$69,824|—|$69,824|—|—|

| 2022|$75,272|—|$75,272|—|—|

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