Plan Ledger DOL Form 5500 · updated monthly

Ocean Lakes Service Corporation401(k)

OCEAN LAKES SERVICE CORPORATION EMPLOYEE 401(K) SAVINGS PLAN · MYRTLE BEACH, SC · plan year 2024

Reported admin expense ratio · 2024
0.40%

Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works

Ocean Lakes Service Corporation reported $64,354 in plan administrative expenses for 2024: 0.40% of average plan assets, above the peer median. Employer contributions averaged $1,511 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 3 years on file its reported administrative ratio has held roughly steady near 0.40%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other accommodation & food services employers. By assets it is the 301st-largest of 807 plans among South Carolina employers on file, and the 346th of 2,240 in accommodation & food services. In 2024, employees put in $2.78 for every $1.00 the employer contributed; active participation has grown from 147 to 170 since 2022.

Plan summary
Net assets, end of year$17,427,728
Participants with balances216
Active participants170
Employer contributions$256,952
Employee contributions$714,860
Employer contribution per active participant$1,511
Average account balance$80,684
Benefits paid to participants$833,389
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$17.4M · 216 accts · $257K emplr
2023$14.9M · 194 accts · $202K emplr
2022$13.2M · 206 accts · $194K emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$26,418
Investment management$37,936
Total administrative$64,354
The Ocean Lakes Service Corporation 401(k) match · 2024
Employer contribution per active participant$1,511
Median for plans this size$2,416
2024$1,511 per active participant
2023$1,277 per active participant
2022$1,317 per active participant

Ocean Lakes Service Corporation's 2024 employer contribution ran below the $2,416 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20243
MERRILL LYNCH PIERCE FENNER & SMITH · Recordkeeping · Pension consulting$37,936
ADP, INC. · Recordkeeping$26,418
ADP BROKER-DEALER · Other servicesindirect comp

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024ADP, Bank of America / Merrill
2023ADP, Bank of America / Merrill

Looking for an account from a past job here? How to find an old 401(k).

Administrative cost history3
2024$64,354 · 0.40%
2023$56,421 · 0.40%
2022$55,333 · 0.39%
Same employer
Similar plansAccommodation & Food Services · South Carolina
Centerplate, Inc. SC$48.9M · 0.24%
Ecratchit, Inc. SC$27.4M · 0.20%
Auro Hotels Management, LLC SC$23.8M · 0.21%
Belmond USA Inc. SC$22.2M · 0.28%
Orr Company Inc. SC$7.6M · 0.00%

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Source: U.S. Department of Labor, Form 5500 series, EIN 570527712 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.