Retirement plan

SOUTH CAROLINA BAR 401(K) PLAN

Name: SOUTH CAROLINA BAR - SOUTH CAROLINA BAR 401(K) PLAN (2023) Form 5500
Creator: SOUTH CAROLINA BAR
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTH CAROLINA BAR 401(K) PLAN, SOUTH CAROLINA BAR

SOUTH CAROLINA BAREIN 57-0610103Plan #002PY 2023

950 TAYLOR STREET - COLUMBIA, SC 29201803-779-6653scbar.orgLinkedIn51-200 employeesnon-profit organization management

Other plans on this EIN

1 filing

#001Retirement-$6.2M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$524K

+27.0% from 2022

Total participants

+8.2% from 2022

Average account balance

$10,702

+24.4% from 2022

Annual return

21.30%

+42.85 pp from 2022

Benchmarks

See 9,816 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,816 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.11M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$235K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$778

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$165K

$3434 / participant

Other / not subdivided$165K100.0%

% of EOY assets

31.432%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,702

$57,312-81.3%

$86,617-87.6%

$75,181-85.8%

Participation rate

91.7%

63.2%+28.5pp

71.7%+20.0pp

67.2%+24.5pp

Annual return

21.30%

2672.78%-2651.5pp

591.91%-570.6pp

160.69%-139.4pp

Employer contribution / active EE

$1,564

$2,315-32.4%

$3,023-48.3%

$2,671-41.4%

Participant deferral / active EE

$2,324

$3,319-30.0%

$4,437-47.6%

$4,126-43.7%

Admin fee / account holder

$3,364

$4,114-18.2%

$5,613-40.1%

$5,650-40.5%

SOUTH CAROLINA BAR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTH CAROLINA BAR 401(K) 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