Plan5500

The Enhanced Capital Accumulation Plan For The Employees Of Southern Bank And Trust Company — Form 5500 plan (Southern Bank And Trust Company)

Plain-English plan summary

According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, The Enhanced Capital Accumulation Plan For The Employees Of Southern Bank And Trust Company is a benefit plan reported by Southern Bank And Trust Company under EIN 56-0132260 and plan number 003. The latest loaded filing year is 2023. The filing reports 588 participants and $36,481,976 in end-of-year plan assets, where available in the loaded dataset.

Form 5500 plan profile · 2023

Key reported metrics

Net assets (EOY)$36.5MPlan net assets, end of year$36,481,976
Participants588Covered participants reported
Assets / participant$62KComputed: assets ÷ participants$62,044 (computed)
Provider compensation$37.1K1 Schedule C provider row(s)$37,112
Plan sponsor
Southern Bank And Trust Company
EIN
56-0132260
Plan number
003
Plan type
2
Location
Mount Olive, NC
Latest filing year
2023

Form 5500 filing history

Filings loaded for this plan
Filing yearParticipantsSchedulesFiling
2023588H, C20241004100451NAL0005606275001
Schedule H · 2023

Reported financial statement

Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.

Reported balance (end of year)$36.5M total assets
Net assets$36.5MLiabilities$0
Money in vs. money out
Total income / additions$10.6M
Total expenses$2.3M
Benefits paid / distributions$2.3M
Contributions
Employer$2.5M
Participant$2.6M
Full reported line items

Net assets

Total assets (EOY)
$36,481,976
Total liabilities (EOY)
$0
Net assets (EOY)
$36,481,976
Net assets (BOY)
$28,243,876

Income & contributions

Employer contributions
$2,471,967
Participant contributions
$2,589,007
Total contributions
$5,420,911
Total income / additions
$10,577,218

Expenses & distributions

Benefits paid
$2,302,006
Administrative expenses
$37,112
Total expenses
$2,339,118
Net increase / (decrease)
$8,238,100
Computed from reported fields

Reported ratios

Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.

Contribution share (employer vs. participant)
Employer 49%Participant 51%
Total expenses ÷ net assets6%Computed ratio
Benefits paid ÷ total income22%Computed ratio
Provider comp. ÷ net assets0%Computed ratio

Service provider compensation (Schedule C)

Reported service provider compensation
ProviderServiceDirect comp.Indirect comp.Year
Newport Group, Inc.RECORDKEEPER$37,112$02023

Related Form 5500 pages