How much does Southern Refrigeration Corporation contribute to its ESOP?

In 2023, employer contributions to the Southern Refrigeration Corporation plan averaged $21,717 per active participant, above the $2,440 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 Southern Refrigeration Corporation 401(k)?

The average participant account balance was $264,290 for plan year 2023, based on 116 accounts.

Southern Refrigeration CorporationESOP

Name: Southern Refrigeration Corporation 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

SOUTHERN REFRIGERATION CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN · ROANOKE, VA · plan year 2023

Employer contribution per participant · 2023

$21,717

Southern Refrigeration Corporation's 2023 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 $30,657,585 across 116 participant accounts, with employer contributions averaging $21,717 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other wholesale trade employers. By assets it is the 723rd-largest of 2,266 plans among Virginia employers on file, and the 1,340th of 4,246 in wholesale trade.

Plan summary
Net assets, end of year$30,657,585
Participants with balances116
Active participants99
Employer contributions$2,150,000
Employee contributions—
Employer contribution per active participant$21,717
Average account balance$264,290
Benefits paid to participants$1,207,928
Plan auditUnmodified (clean) audit opinion
AuditorANDERSON & REED, LLP

Plan history2

Yearassets · accounts · employer contribution

2023$30.7M · 116 accts · $2.1M emplr

2022$25.6M · 114 accts · $1.9M emplr

Employer contributions to the Southern Refrigeration Corporation plan · 2023

Employer contribution per active participant$21,717

Median for plans this size$2,440

2023$21,717 per active participant

2022$20,213 per active participant

Southern Refrigeration Corporation's 2023 employer contribution ran above the $2,440 median for plans its size, placing it in the top quarter of its peers. 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

2023Not separately reported

2022Not separately reported

Similar plansWholesale Trade · Virginia
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Source: U.S. Department of Labor, Form 5500 series, EIN 540470010 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.