Retirement plan

BANC OF CALIFORNIA, INC. 401(K) PLAN

Name: BANC OF CALIFORNIA, INC. - BANC OF CALIFORNIA, INC. 401(K) PLAN (2024) 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 2024

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$327.3M

-4.0% from 2023

Total participants

2,918

+167.0% from 2023

Average account balance

$115,759

-64.0% from 2023

Annual return

16.95%

-429.12 pp from 2023

Benchmarks

See 610 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort610 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290	Contract Administrator	$240,140
ACTUARIAL BENEFITS CORP2+ years Filed as: ACTUARIAL BENEFITS CORPORATION Service code 13 · EIN 20-1054428	Contract Administrator	$72,426
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$57,888
BANC OF CALIFORNIA1 year Service code 49 · EIN 95-6047013	Other Services	$40,227
UBS FINANCIAL SERVICES INC2+ years Service code 27 · EIN 13-2638166	Advisory (Plan)	$37,500
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	$9,617

Reportable transactions (Schedule G)

1 row

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

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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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$424K

$218 / participant

Recordkeeping$10K2.3%
Investment mgmt$86K20.3%
Contract admin$288K68.0%
Other / not subdivided$40K9.5%

% of EOY assets

0.130%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,759

$122,695-5.7%

$184,185-37.2%

$199,874-42.1%

Participation rate

95.3%

87.0%+8.4pp

86.8%+8.5pp

72.0%+23.3pp

Annual return

16.95%

143.93%-127.0pp

28.81%-11.9pp

34.28%-17.3pp

Employer contribution / active EE

$4,604

$4,581+0.5%

$6,426-28.3%

$3,036+51.6%

Participant deferral / active EE

$10,458

$7,983+31.0%

$9,132+14.5%

$5,090+105.5%

Admin fee / account holder

$150

$120+24.7%

$13,909-98.9%

$269-44.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$240,140

ACTUARIAL BENEFITS CORP2+ years

Filed as: ACTUARIAL BENEFITS CORPORATION

Service code 13 · EIN 20-1054428

Contract Administrator

$72,426

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$57,888

BANC OF CALIFORNIA1 year

Service code 49 · EIN 95-6047013

Other Services

$40,227

UBS FINANCIAL SERVICES INC2+ years

Service code 27 · EIN 13-2638166

Advisory (Plan)

$37,500

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

$9,617

BANC OF CALIFORNIA, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANC OF CALIFORNIA, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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