Southern Bank and Trust 401(k) match, vesting and fees
What Southern Bank and Trust's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Newport Group, Inc. | Schedule C ↗ |
| Independent auditor | Forvis Mazars, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 655 defined-contribution plans in finance and insurance with 500 to 999 participants.
| Southern Bank and Trust: employer contribution per participant | $4,032 | |
| Peer median | $2,935 |
| Southern Bank and Trust: average balance | $68,516 | |
| Peer median | $92,770 |
| Southern Bank and Trust: admin expenses ÷ assets | 0.12% | |
| Peer median | 0.15% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $28.9M at the end of plan year 2021 to $43.7M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 642 | $43.7M | $2.6M | $4,032 | 0.12% | Not published | Form 5500 ↗ |
| 2023 | 608 | $36.5M | $2.5M | $4,113 | 0.11% | Not published | Form 5500 ↗ |
| 2022 | 585 | $28.2M | $2.3M | $3,944 | 0.14% | Not published | Form 5500 ↗ |
| 2021 | 538 | $28.9M | $2M | $3,790 | 0.14% | Not published | Form 5500 ↗ |
Other Southern Bank and Trust plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
The Capital Accumulation Plan for the Employees of Southern Bank and Trust
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Forvis Mazars, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
Southern Bank and Trust Company Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Forvis Mazars, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Southern Bank and Trust match 401(k) contributions?
The match terms for the The Enhanced Capital Accumulation Plan for the Employees of Southern Bank and Trust Company have not been published from its filing yet. The plan year 2024 filing reports $2.6M in employer contributions, about $4,032 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Southern Bank and Trust 401(k) match vested?
The vesting schedule for the The Enhanced Capital Accumulation Plan for the Employees of Southern Bank and Trust Company is not in the data published so far. Your Summary Plan Description states it.
Who manages the Southern Bank and Trust 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Newport Group, Inc.. The plan administrator is Southern Bank and Trust Company.
I left Southern Bank and Trust. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Southern Bank and Trust Company, (919) 658-7026) or the recordkeeper, Newport Group, Inc.. The Southern Bank and Trust old 401(k) page lists the contacts from every plan filing. Find an old Southern Bank and Trust 401(k)
Data from the public Form 5500 annual reports Southern Bank and Trust filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Southern Bank and Trust. Not financial advice. Report a correction · Methodology