How much does Sbi, Inc. contribute to its ESOP?

In 2024, employer contributions to the Sbi, Inc. plan averaged $1,795 per active participant, above the $1,313 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Sbi, Inc. 401(k)?

The average participant account balance was $41,346 for plan year 2024, based on 236 accounts.

Sbi, Inc.ESOP

Name: Sbi, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

SAFE BOATS INTERNATIONAL EMPLOYEE STOCK PLAN & TRUST · BREMERTON, WA · plan year 2024

Employer contribution per participant · 2024

$1,795

Sbi, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $9,757,728 across 236 participant accounts, with employer contributions averaging $1,795 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other manufacturing employers. By assets it is among the smaller plans on file in Washington (1,087th of 1,714), and 8,910th of 13,661 in manufacturing.

Plan summary
Net assets, end of year$9,757,728
Participants with balances236
Active participants223
Employer contributions$400,282
Employee contributions—
Employer contribution per active participant$1,795
Average account balance$41,346
Plan auditUnmodified (clean) audit opinion
AuditorBAKER TILLY US, LLP

Plan history2

Yearassets · accounts · employer contribution

2024$9.8M · 236 accts · $400K emplr

2023$1.9M · 215 accts · $394K emplr

Employer contributions to the Sbi, Inc. plan · 2024

Employer contribution per active participant$1,795

Median for plans this size$1,313

2024$1,795 per active participant

2023$1,832 per active participant

Sbi, Inc.'s 2024 employer contribution ran above the $1,313 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.

Administrative cost history2

2024Not separately reported

2023Not separately reported

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Board of Trustees, Western States Ironworkers Shopmens 401(K) Plan WA$9.7M · 0.91%
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Source: U.S. Department of Labor, Form 5500 series, EIN 884367942 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.