Southern Bank 401(k) Review & Grade
Southern Bank 401(k) Retirement Plan
Poplar Bluff, MOFinance & Insurance554 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,433Employer $ per active participant
$3,721Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$70.4MNet plan assets, end of year
$110,188Average balance per account
Score breakdown
- Employer generosity31.0 / 5062th percentile for employer $ per participant
- Low cost24.1 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 97th |
| Employee saving | 10th |
| Peers that auto-enroll | 62% |
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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
- Southern Bank put in about $4,433 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $2,453,862 |
| Participant (employee) contributions | $2,059,710 |
| Other contributions (incl. rollovers in) | $376,156 |
| Administrative expenses paid from the plan | $9,676 |
| Benefits paid out | $2,511,613 |
| Net assets, start / end of year | $57.6M / $70.4M |
| Active participants, start / end of year | 554 / 553 |
| Participants with account balances | 639 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
| Employer stock held by plan | $22,874,722 |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Svcs. | $9,676 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251210135152NAL0005068049001, received 2025-12-10, EIN 43-0462350, plan #001, plan year 2024-07-01 to 2025-06-30. Verify at efast.dol.gov.