Ameris Bancorp 401(k) Review & Grade
Ameris Bancorp 401(k) Profit Sharing Plan
Atlanta, GAFinance & Insurance2,726 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,603Employer $ per active participant
$7,513Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$294.8MNet plan assets, end of year
$90,440Average balance per account
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost13.6 / 2554th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1540th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score40 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 54th |
| Employee saving | 40th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Ameris Bancorp put in about $2,603 per active participant, below the typical peer ($4,489). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $7,095,578 |
| Participant (employee) contributions | $20,481,000 |
| Other contributions (incl. rollovers in) | $2,624,425 |
| Administrative expenses paid from the plan | $306,425 |
| Contract administrator fees | $273,275 |
| Benefits paid out | $34,749,012 |
| Net assets, start / end of year | $265.0M / $294.8M |
| Active participants, start / end of year | 2,763 / 2,689 |
| Participants with account balances | 3,260 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mauldin & Jenkins |
| Employer stock held by plan | $16,969,374 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $273,274 reported compensation |
| Ubs Financial Services Inc | $111,731 reported compensation |
| Mauldin & Jenkins | $39,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250729144448NAL0004928496001, received 2025-07-29, EIN 58-1456434, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.