Retirement plan

COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN

Name: COMMONWEALTH BANK OF AUSTRALIA - COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN (2019) Form 5500
Creator: COMMONWEALTH BANK OF AUSTRALIA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN, COMMONWEALTH BANK OF AUSTRALIA

COMMONWEALTH BANK OF AUSTRALIAEIN 13-2847964Plan #002PY 2019

599 LEXINGTON AVE, 30TH FLOOR - NEW YORK, NY 100226030212-848-9200

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$21.8M

+13.3% from 2018

Total participants

169

-8.2% from 2018

Average account balance

$129,199

+23.3% from 2018

Annual return

20.51%

+23.40 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.00M

Not enough data

1 years with asset history on file

Average account balance

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

$185K

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.

173

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.43M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+14.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$447

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC4 years Filed as: GLOBAL RETIREMENT PARTNERS Service code 27 · EIN 47-1411118	Advisory (Plan)	$48,136
PRUDENTIAL RETIREMENT INSURANCE AND5+ years Service code 13 · EIN 06-1050034	Contract Administrator	$41,945

Plan features & details

Pension benefit codes2E2J2F2K3D2T

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).
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$91K

$889 / participant

Other / not subdivided$91K100.0%

% of EOY assets

0.415%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CARON AND BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$129,199

$98,982+30.5%

$162,185-20.3%

$65,186+98.2%

Participation rate

100.0%

85.8%+14.2pp

87.6%+12.4pp

70.2%+29.8pp

Annual return

20.51%

24.84%-4.3pp

115.61%-95.1pp

29.39%-8.9pp

Employer contribution / active EE

$9,240

$3,467+166.5%

$5,613+64.6%

$2,177+324.5%

Participant deferral / active EE

$13,048

$5,384+142.3%

$7,297+78.8%

$3,514+271.3%

Admin fee / account holder

$536

$596-10.1%

$10,844-95.1%

$847-36.7%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC4 years

Filed as: GLOBAL RETIREMENT PARTNERS

Service code 27 · EIN 47-1411118

Advisory (Plan)

$48,136

PRUDENTIAL RETIREMENT INSURANCE AND5+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$41,945

COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS 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