Retirement plan

SOUTHERN STATES, LLC SALARIED EMPLOYEES SAVINGS PLAN

Name: SOUTHERN STATES, LLC - SOUTHERN STATES, LLC SALARIED EMPLOYEES SAVINGS PLAN (2023) Form 5500
Creator: SOUTHERN STATES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN STATES, LLC SALARIED EMPLOYEES SAVINGS PLAN, SOUTHERN STATES, LLC

SOUTHERN STATES, LLCEIN 03-0493527Plan #005PY 2023

30 GEORGIA AVENUE - HAMPTON, GA 30228770-946-4562southernstatesllc.comLinkedIn201-500 employeeselectrical/electronic manufacturing

Other plans on this EIN

3 filings

#003Retirement-$12.1M assets #006Retirement-$4.4M assets #004Retirement-$4.0M assets

Prospect flagsHigh feesHigh cashLow participation

How to read this page

Total assets (EOY)

$17M

+4.0% from 2022

Total participants

249

+43.9% from 2022

Average account balance

$91,462

-3.3% from 2022

Annual return

15.55%

+31.68 pp from 2022

Benchmarks

See 4,137 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,137 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$20.60M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$104K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

199

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

69.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.39%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$404

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
NORTHWESTERN MUTUAL INVESTMENT SERV3 years Filed as: NORTHWESTERN MUTUAL Service code 26 720 E WISCONSIN AVE, · MILWAUKEE, WI 53202	Advisory (Participants)	$46,621
THE VANGUARD GROUP, INC.3 years Filed as: THE VANGUARD GROUP Service code 15 · EIN 23-1945930	Recordkeeping	$17,355
SWERDLIN & COMPANY1 year Filed as: SWERDLIN AND COMPANY Service code 13 5901 PEACHTREE, DUNWOODY RD · ATLANTA, GA 30328	Contract Administrator	$15,765

Plan features & details

Pension benefit codes2E2F2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$72K

$357 / participant

Contract admin$72K100.0%

% of EOY assets

0.424%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SMITH & HOWARD P.C.
Auditor EIN: 581250486
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,462

$76,112+20.2%

$96,544-5.3%

$71,529+27.9%

Participation rate

68.8%

74.4%-5.6pp

76.0%-7.2pp

67.9%+0.9pp

Annual return

15.55%

22.80%-7.3pp

25.88%-10.3pp

28.97%-13.4pp

Employer contribution / active EE

$1,721

$2,248-23.4%

$2,966-42.0%

$2,590-33.5%

Participant deferral / active EE

$5,176

$4,217+22.7%

$4,851+6.7%

$4,291+20.6%

Admin fee / account holder

$388

$2,708-85.7%

$8,254-95.3%

$1,588-75.6%

Provider

Service type

Compensation

NORTHWESTERN MUTUAL INVESTMENT SERV3 years

Filed as: NORTHWESTERN MUTUAL

Service code 26

720 E WISCONSIN AVE, · MILWAUKEE, WI 53202

Advisory (Participants)

$46,621

THE VANGUARD GROUP, INC.3 years

Filed as: THE VANGUARD GROUP

Service code 15 · EIN 23-1945930

Recordkeeping

$17,355

SWERDLIN & COMPANY1 year

Filed as: SWERDLIN AND COMPANY

Service code 13

5901 PEACHTREE, DUNWOODY RD · ATLANTA, GA 30328

Contract Administrator

$15,765

SOUTHERN STATES, LLC SALARIED EMPLOYEES SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN STATES, LLC SALARIED EMPLOYEES SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion