Retirement plan

COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN

Name: COMMONWEALTH BANK OF AUSTRALIA - COMMONWEALTH BANK OF AUSTRALIA EMPLOYEES 401K SAVINGS PLAN (2021) 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 2021

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

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$28M

+8.3% from 2020

Total participants

163

-3.0% from 2020

Average account balance

$171,480

+11.7% from 2020

Annual return

12.78%

-3.39 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

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 LLC2 years Filed as: GLOBAL RETIREMENT PARNTERS LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$58,175
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Service code 13 · EIN 06-1050034	Contract Administrator	$51,017

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$109K

$1272 / participant

Other / not subdivided$109K100.0%

% of EOY assets

0.391%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$171,480

$137,414+24.8%

$189,537-9.5%

$85,847+99.8%

Participation rate

100.0%

84.6%+15.4pp

87.8%+12.2pp

69.3%+30.7pp

Annual return

12.78%

38.14%-25.4pp

555.34%-542.6pp

318.61%-305.8pp

Employer contribution / active EE

$9,165

$4,344+111.0%

$6,161+48.8%

$2,565+257.3%

Participant deferral / active EE

$13,295

$6,260+112.4%

$8,220+61.7%

$3,952+236.4%

Admin fee / account holder

$671

$8,630-92.2%

$12,048-94.4%

$6,261-89.3%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENT PARNTERS LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$58,175

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$51,017

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