Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › South Banking
South Banking 401(k)
- Finance and insurance
- Alma, GA
- EIN 58-1418696
- 1 plan with Schedule H financials
- Plan year 2024
- South Banking Company
- SEC registrant South Banking Co
Total assets, end of year · Savings Plan for Employees of South Banking Company · plan year 2024
$15,816,683
162 participants with a balance. This filing reports no recordkeeping fee and no administrative expenses excluding investment management, so there is no headline cost figure.
Source
Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250520081410NAL0001773808001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520081410NAL0001773808001, received 2025-05-20
Percentiles compare this plan with the Schedule H plans $10 to 50M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-05-20.
Cost and contributions
Administrative expenses excluding investment management, per participant
$0.00
Fewer than 50 comparable plans report this figure; no percentile.
Source
= $0 / 162
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250520081410NAL0001773808001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520081410NAL0001773808001, received 2025-05-20
Administrative expenses per participant
$116.49
Higher than 31% of the 25,098 plans $10 to 50M that report it.
Source
= $18,872 / 162
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520081410NAL0001773808001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520081410NAL0001773808001, received 2025-05-20
Administrative expenses as a share of assets
0.119%
Higher than 24% of the 25,132 plans $10 to 50M that report it.
Source
= $18,872 / $15,816,683
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520081410NAL0001773808001, received 2025-05-20
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250520081410NAL0001773808001, received 2025-05-20
Employer contributions per participant
$693
Higher than 11% of the 24,050 plans $10 to 50M that report it.
Source
= $112,195 / 162
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520081410NAL0001773808001, received 2025-05-20
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520081410NAL0001773808001, received 2025-05-20
Employer share of total contributions
11.0%
Higher than 7% of the 24,084 plans $10 to 50M that report it.
Source
= $112,195 / $1,019,994
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520081410NAL0001773808001, received 2025-05-20
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250520081410NAL0001773808001, received 2025-05-20
Plan terms, as stated in South Banking Company's SEC filings
Plan terms are described in South Banking Company's SEC filings: Form 10-K filed 2003-03-31. No term could be quoted from them with the required precision.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 3D IRS pre-approved plan · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250520081410NAL0001773808001, received 2025-05-20
Full record, Savings Plan for Employees of South Banking Company
| Field | Value | Source |
|---|---|---|
| Plan sponsor | SOUTH BANKING COMPANY | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Plan name | SAVINGS PLAN FOR EMPLOYEES OF SOUTH BANKING COMPANY | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Sponsor EIN / plan number | 58-1418696 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Plan type | multiple-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Sponsor location | ALMA, GA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Filing received | 2025-05-20 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Participants, beginning of year | 190 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Active participants | 140 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Participants, end of year | 191 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Participants with an account balance | 162 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total assets, beginning of year | $13,645,812 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total assets, end of year | $15,816,683 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Net assets, end of year | $15,816,683 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total income | $3,062,012 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Net income | $2,170,871 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Employer contributions | $112,195 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Participant contributions | $603,898 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Other contributions (incl. rollovers) | $303,901 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total contributions | $1,019,994 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Benefit payments | $853,842 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total expenses (incl. benefit payments) | $891,141 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Total administrative expenses | $18,872 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Investment advisory and management fees | $18,872 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Administrative expenses excluding investment management | $0 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250520081410NAL0001773808001, received 2025-05-20 |
| Independent auditor | WARREN AVERETT LLC | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250520081410NAL0001773808001, received 2025-05-20 |
Position = column in the DOL layout for form year 2024. Filing 20250520081410NAL0001773808001, received 2025-05-20.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| WARREN AVERETT LLC | SERVICE PROVIDER | 99 Other fees | $13,300 | no |
| VOYA RETIREMENT ADVISORS, LLC | INVESTMENT ADVISORY | 26 Investment advisory (participants) | $1,906 | no |
| PRECISION PLAN ADMINISTRATION LLC | TPA | 49 Other services | $0 | yes |
| MORNINGSTAR INVESTMENT MANAGEMENT | INVESTMENT ADVISORY | 27 Investment advisory (plan) | $0 | yes |
| MORNINGSTAR INVESTMENT MANAGEMENTrecordkeeper | RECORD-KEEPING FEES | 64 Recordkeeping fees | $0 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250520081410NAL0001773808001, received 2025-05-20.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $13,645,812 | $15,816,683 | 15.9% |
| Participants with a balance | 162 | 162 | 0.0% |
| Administrative expenses | $17,800 | $18,872 | 6.0% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $103,468 | $112,195 | 8.4% |
Prior filing 20240418082647NAL0004164705001, received 2024-04-18; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: SOUTH BANKING COMPANY; SEC registrant: SOUTH BANKING CO (CIK 351566, matched by EIN).