Plan Ledger DOL Form 5500 · updated monthly

Palmetto Solar, LLC401(k)

PALMETTO SOLAR, LLC 401(K) PROFIT SHARING PLAN · CHARLESTON, SC · plan year 2023

Reported admin expense ratio · 2023
1.10%

Palmetto Solar, LLC reported $88,268 in plan administrative expenses for 2023: 1.10% of average plan assets, higher than ~75% of peers. 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 2 years on file its reported administrative ratio fell from 0.98% to 0.75%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in South Carolina (432nd of 807), and 4,030th of 4,798 in finance & insurance. active participation has shrunk from 454 to 303 since 2022.

Plan summary
Net assets, end of year$9,510,698
Participants with balances308
Active participants303
Employer contributions—
Employee contributions$2,720,271
Employer contribution per active participant—
Average account balance$30,879
Benefits paid to participants$1,549,385
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$9.0M · 271 accts
2023$9.5M · 308 accts
2022$6.5M · 326 accts
Administrative expenses, itemized · 2023
Recordkeeping & contract admin$88,268
Total administrative$88,268
What these fees cost you

Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20233
PRINCIPAL LIFE INSURANCE COMPANY · Contract administrator · Loan processing$88,267
ROYAL ALLIANCE ASSOCIATES, INC. · Investment advisory (plan)indirect comp
NOVA 401K ASSOCIATES · Contract administrator · Other servicesindirect comp

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

Administrative cost history3
2024$69,174 · 0.75%
2023$88,268 · 1.10%
2022$55,006 · 0.98%
Similar plansFinance & Insurance · South Carolina
Grandsouth Bank SC$14.8M · 0.18%
The Cason Group, Inc SC$12.7M · 0.50%
Mtc Federal Credit Union SC$8.1M · 0.80%
Community First Bank SC$7.5M · 0.48%
Arthur State Bank SC$6.8M · 0.25%

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Source: U.S. Department of Labor, Form 5500 series, EIN 454209575 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.