Plan Snapshot
- Plan Sponsor: Spartanburg Steel Products, INC.
- Sponsor EIN: 311039895
- Sponsor Address: 1290 NEW CUT ROAD, SPARTANBURG, SC, 29303
- Plan Type: 401(k)
- Total Participants: 61
- Total Assets: $9.2M
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 | 61 | $9.2M | $409,020 | $596,395 |
| 2023 | 81 | $8.0M | $309,909 | $633,183 |
| 2022 | 83 | $6.9M | $246,956 | $505,631 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE CO | Recordkeeper | $41,454 | — | $41,454 |
| CAPFINANCIAL PARTNERS, LLC | Investment Advisor | $15,374 | — | $15,374 |
| CBIZ BENEFITS & INS SERVICES | Other Service Provider | — | $8,478 | $8,478 |
| EMPOWER ADVISORY GROUP LLC | Investment Advisor | $5,778 | — | $5,778 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $71,084
- Estimated Expense Ratio: 0.769% 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 | $62,855 | — | $60,543 | — | — |
| 2023 | $56,852 | — | $55,672 | — | — |
| 2022 | $59,127 | — | $59,127 | — | — |