Plan Ledger DOL Form 5500 · updated monthly

Salem Academy and College403(b)

SALEM ACADEMY AND COLLEGE FACULTY DEFINED CONTRIBUTION RETIREMENT PLAN · WINSTON-SALEM, NC · plan year 2024

Reported admin expense ratio · 2024
0.16%

Salem Academy and College reported $37,621 in plan administrative expenses for 2024: 0.16% of average plan assets, below the peer median. 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 0.17% to 0.16%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other educational services employers. By assets it is the 650th-largest of 2,005 plans among North Carolina employers on file, and the 1,444th of 3,091 in educational services. active participation has shrunk from 83 to 67 since 2022.

Plan summary
Net assets, end of year$24,230,726
Participants with balances320
Active participants67
Employer contributions—
Employee contributions—
Employer contribution per active participant—
Average account balance$75,721
Benefits paid to participants$1,882,521
Plan auditUnmodified (clean) audit opinion
AuditorBROWN, EDWARDS & COMPANY
Plan history3
Yearassets · accounts · employer contribution
2024$24.2M · 320 accts
2023$23.6M · 364 accts
2022$23.7M · 393 accts
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$20,860
Investment management$16,761
Total administrative$37,621
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
MILLENNIUM ADVISORY SERVICES, INC. · Investment advisory (plan)$13,143
SAGEVIEW ADVISORY GROUP · Investment advisory (participants)$10,624
TIAA$10,236

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$37,621 · 0.16%
2023$35,896 · 0.15%
2022$46,185 · 0.17%
All plans at this employer2
SALEM ACADEMY AND COLLEGE FACULTY DEFINED CONTRIBUTION RETIREMENT PLAN403(b)
SALEM ACADEMY AND COLLEGE TAX DEFERRED ANNUITY PLAN403(b)
Same employer
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University of Mount Olive NC$28.1M · 0.36%
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Chowan University NC$24.2M · 0.27%
Greensboro College Inc NC$24.1M · 0.03%
Carolina Friends School NC$23.8M · 0.11%
William Peace University NC$22.7M · 0.27%
Proctoru Inc dba Proctoru NC$22.2M · 0.46%

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Source: U.S. Department of Labor, Form 5500 series, EIN 560530005 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.