Retirement plan

PROFIT SHARING & 401(K) PLAN OF SAFRA NATIONAL BANK OF NEW YORK

Name: SAFRA NATIONAL BANK OF NEW YORK - PROFIT SHARING & 401(K) PLAN OF SAFRA NATIONAL BANK OF NEW YORK (2016) Form 5500
Creator: SAFRA NATIONAL BANK OF NEW YORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFIT SHARING & 401(K) PLAN OF SAFRA NATIONAL BANK OF NEW YORK, SAFRA NATIONAL BANK OF NEW YORK

SAFRA NATIONAL BANK OF NEW YORKEIN 13-3379508Plan #002PY 2016

546 FIFTH AVENUE - NEW YORK, NY 10036212-704-5500safra.comLinkedIn201-500 employeesfinancial services

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$31.4M

+15.1% from 2015

Total participants

458

+3.9% from 2015

Average account balance

$71,160

+10.2% from 2015

Annual return

6.92%

+0.95 pp from 2015

Benchmarks

See 2,214 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,214 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$91.91M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

639

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.

93.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+22.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$55

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
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$8,160
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,081

Plan features & details

Pension benefit codes2E2F2G2J2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$11K

$49 / participant

Investment mgmt$8K72.3%
Other / not subdivided$3K27.7%

% of EOY assets

0.036%

all-in expense ratio

Categories reported

1 / 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: MARKS PANETH LLP
Auditor EIN: 113518842
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,160

$74,089-4.0%

$133,975-46.9%

$55,167+29.0%

Participation rate

92.7%

84.3%+8.4pp

87.1%+5.6pp

69.0%+23.7pp

Annual return

6.92%

12.11%-5.2pp

29.29%-22.4pp

169.23%-162.3pp

Employer contribution / active EE

$5,984

$3,064+95.3%

$5,211+14.8%

$1,963+204.9%

Participant deferral / active EE

$8,550

$4,678+82.8%

$6,282+36.1%

$3,054+179.9%

Admin fee / account holder

$26

$458-94.4%

$9,324-99.7%

$504-94.9%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$8,160

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,081

PROFIT SHARING & 401(K) PLAN OF SAFRA NATIONAL BANK OF NEW YORK

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFIT SHARING & 401(K) PLAN OF SAFRA NATIONAL BANK OF NEW YORK

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