Plan Ledger DOL Form 5500 · updated monthly

Southern Wesleyan University403(b)

SOUTHERN WESLEYAN UNIVERSITY DC PLAN · CENTRAL, SC · plan year 2023

Employer contribution per participant · 2023
$1,290

Southern Wesleyan University'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 $24,042,968 across 459 participant accounts, with employer contributions averaging $1,290 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 educational services employers. By assets it is the 228th-largest of 807 plans among South Carolina employers on file, and the 1,449th of 3,091 in educational services. In 2023, employees put in $1.02 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$24,042,968
Participants with balances459
Active participants154
Employer contributions$198,660
Employee contributions$203,158
Employer contribution per active participant$1,290
Average account balance$52,381
Benefits paid to participants$1,368,928
Plan auditUnmodified (clean) audit opinion
AuditorCAPINCROUSE LLP
Plan history3
Yearassets · accounts · employer contribution
2024$23.8M · 456 accts · $212K emplr
2023$24.0M · 459 accts · $199K emplr
2022$22.0M · 448 accts · $202K emplr
Employer contributions to the Southern Wesleyan University plan · 2023
Employer contribution per active participant$1,290
Median for plans this size$2,440
2024$1,260 per active participant
2023$1,290 per active participant
2022$1,341 per active participant

Southern Wesleyan University's 2023 employer contribution ran below the $2,440 median for plans its size, in the bottom 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 history3
2024$25 · 0.00%
2023Not separately reported
2022Not separately reported
Same employer
Similar plansEducational Services · South Carolina
Claflin University SC$32.9M · 0.04%
Coker University SC$30.2M · 0.13%
Benedict College SC$26.2M · 0.07%
Newberry College SC$22.2M · 0.10%
Ashley Hall School SC$21.7M · 0.04%
Spartanburg Day School SC$19.7M · 0.13%

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Source: U.S. Department of Labor, Form 5500 series, EIN 570324936 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.