Salem Electric Company Retirement Savings Plan — Form 5500 plan (Salem Electric Company, Inc)

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, Salem Electric Company Retirement Savings Plan is a benefit plan reported by Salem Electric Company, Inc under EIN 56-0633616 and plan number 001. The latest loaded filing year is 2023. The filing reports 173 participants and $14,677,728 in end-of-year plan assets, where available in the loaded dataset.

Key reported metrics

Plan sponsor
Salem Electric Company, Inc
EIN
56-0633616
Plan number
001
Plan type
2
Location
Winston-Salem, NC
Latest filing year
2023
Participants
173
End-of-year plan assets
$14,677,728

Form 5500 filing history

Filings loaded for this plan
Filing yearParticipantsSchedulesFiling
2023173H, C20240911121343NAL0012300320001

Reported financial statement (2023 · Schedule H)

Net assets

Total assets (EOY)
$14,677,728
Total liabilities (EOY)
$0
Net assets (EOY)
$14,677,728
Net assets (BOY)
$12,820,350

Income & contributions

Employer contributions
$585,133
Participant contributions
$761,974
Total contributions
$1,347,107
Total income / additions
$3,417,581

Expenses & distributions

Benefits paid
$1,502,263
Administrative expenses
$57,940
Total expenses
$1,560,203
Net increase / (decrease)
$1,857,378

Service provider compensation (Schedule C)

Reported service provider compensation
ProviderServiceDirect comp.Indirect comp.Year
Ascensus LLCNONE$33,945$02023
One Digital Investment AdvisorsNONE$21,686not reported in the loaded dataset2023
Nextcapital Group, Inc.NONE$1,131not reported in the loaded dataset2023

Related Form 5500 pages