South Carolina › Professional, scientific and technical services › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Palmetto Engineering Employee Stock Ownership Plan
Sponsored by Palmetto Engineering & Consulting, Inc., Piedmont, SC
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2025, Palmetto Engineering Employee Stock Ownership Plan covered 150 participants and held −$23.5M in net assets. The plan is an employee stock ownership plan sponsored by Palmetto Engineering & Consulting, Inc. of Piedmont, South Carolina.
The employer contributed $1.5M during the year, or $11,308 per active participant against a same-size median of $2,447; participants contributed —. Benefits paid out totalled $3,923.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $0.
Across the filings on record, net assets went from −$28.2M in 2022 to −$23.5M in 2025 (), and participants from 154 to 150 (down 3%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | — | $60,185 | $73,951 | $53,102 |
| Employer contributions per active participant | $11,290 | $2,447 | $3,219 | $2,175 |
| Schedule C compensation per participant | — | $194 | $148 | $123 |
| Schedule C compensation, share of net assets | — | 0.32% | 0.22% | 0.26% |
| Administrative expenses per participant | — | $176 | $140 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), professional, scientific and technical services (9,776) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 150 | −$23.5M | −$156,900 | $1.5M | — | $0 |
| 2024 | 148 | −$26.9M | −$181,770 | $1.5M | — | $0 |
| 2023 | 140 | −$27.8M | −$198,329 | $1.5M | — | $0 |
| 2022 | 154 | −$28.2M | −$182,981 | $350K | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began. Earlier years filed under the plan's previous EIN or plan number are included.
Statement for the year
- Net assets, beginning of year−$26,901,625
- Employer contributions$1,503,923
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,503,923
- Total income, including investment results$4,512,923
- Benefits paid$3,923
- Administrative expenses$0
- Total expenses$1,146,549
- Net income$3,366,374
- Net transfers$0
- Net assets, end of year−$23,535,251
Participants
- Active participants133
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits16
- Participants with account balances144
- Total participants, end of year150
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$5.3M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmDoeren Mayhew Assurance
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2IStock bonus2PLeveraged ESOP3DPre-approved pension plan3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 541600: Management, Scientific, & Technical Consulting Services.
Similar plans in South Carolina
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| F&me Consultants, Inc. Employee Savings Plan | F&me Consultants, Inc. | 162 | — | — |
| South Carolina Legal Services 401(k) Profit Sharing Plan | South Carolina Legal Services | 150 | $17.5M | $116,807 |
| Acl Airshop, LLC 401(k) Profit Sharing Plan and Trust | Acl Airshop, LLC | 163 | $2.5M | $15,397 |
| Hawkes Learning 401(k) Plan | Quant Systems, Inc. DBA Hawkes Learning | 146 | $5.5M | $37,768 |
| Websterrogers LLP 401(k) Plan & Trust | Websterrogers, LLP | 165 | $23.7M | $143,669 |
| Clawson & Staubes, LLC 401(k) Plan | Clawson & Staubes, LLC | 137 | $21.3M | $155,693 |
Defined contribution plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Palmetto Engineering Employee Stock Ownership Plan?
150 participants at the end of the plan year ending 31 Dec 2025, of whom 133 were active employees, with net assets of −$23,535,251. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Palmetto Engineering & Consulting, Inc. contribute per participant?
The filing reports $1,503,923 in employer contributions for the year, which is $11,308 per active participant; the median for plans of the same type and size was $2,447 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $0. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Palmetto Engineering & Consulting, Inc.. The financial statements were audited by Doeren Mayhew Assurance. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 28 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 75-3218929, plan 002, received 28 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.