Retirement plan

BANC OF CALIFORNIA, INC. 401(K) PLAN

Name: BANC OF CALIFORNIA, INC. - BANC OF CALIFORNIA, INC. 401(K) PLAN (2023) Form 5500
Creator: BANC OF CALIFORNIA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANC OF CALIFORNIA, INC. 401(K) PLAN, BANC OF CALIFORNIA, INC.

BANC OF CALIFORNIA, INC.EIN 04-3639825Plan #002PY 2023

3 MACARTHUR PLACE - SANTA ANA, CA 92707949-236-5406bancofcal.comLinkedIn501-1000 employeesbanking

Prospect flagsHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$341M

No prior year

Total participants

1,093

No prior year

Average account balance

$321,663

No prior year

Annual return

446.08%

No prior year

Benchmarks

See 1,522 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,522 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$377.66M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$136K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,780

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.66%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$147

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

See the 3-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290	Contract Administrator	$188,797
UBS FINANCIAL SERVICES INC1+ years Service code 27 · EIN 13-2638166	Advisory (Plan)	$37,500
ACTUARIAL BENEFITS CORP1+ years Filed as: ACTUARIAL BENEFITS CORPORATION Service code 13 · EIN 20-1054428	Contract Administrator	$25,053

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$190K

$280 / participant

Contract admin$190K100.0%

% of EOY assets

0.056%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$321,663

$100,227+220.9%

$169,993+89.2%

$74,419+332.2%

Participation rate

95.1%

87.3%+7.8pp

87.0%+8.1pp

70.7%+24.4pp

Annual return

446.08%

66.08%+380.0pp

53.37%+392.7pp

34.38%+411.7pp

Employer contribution / active EE

$4,316

$4,263+1.2%

$6,785-36.4%

$2,637+63.6%

Participant deferral / active EE

$8,676

$7,143+21.5%

$10,408-16.6%

$4,528+91.6%

Admin fee / account holder

$179

$234-23.6%

$12,815-98.6%

$348-48.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$188,797

UBS FINANCIAL SERVICES INC1+ years

Service code 27 · EIN 13-2638166

Advisory (Plan)

$37,500

ACTUARIAL BENEFITS CORP1+ years

Filed as: ACTUARIAL BENEFITS CORPORATION

Service code 13 · EIN 20-1054428

Contract Administrator

$25,053

BANC OF CALIFORNIA, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANC OF CALIFORNIA, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion