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 (2020) 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 2020

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

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$59.7M

+29.4% from 2019

Total participants

545

+12.1% from 2019

Average account balance

$119,197

+18.3% from 2019

Annual return

23.22%

-3.78 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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.5 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$16,342
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	$1,952

Plan features & details

Pension benefit codes2E2F2G2J2T3D2R

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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$20K

$57 / participant

Investment mgmt$16K83.4%
Other / not subdivided$3K16.6%

% of EOY assets

0.033%

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: SC&H ATTEST SERVICES, P.C.,
Auditor EIN: 521743645
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,197

$111,608+6.8%

$177,848-33.0%

$73,412+62.4%

Participation rate

87.3%

87.9%-0.6pp

87.7%-0.4pp

72.2%+15.1pp

Annual return

23.22%

18.23%+5.0pp

48.33%-25.1pp

59.30%-36.1pp

Employer contribution / active EE

$6,012

$3,796+58.4%

$5,919+1.6%

$2,234+169.2%

Participant deferral / active EE

$9,048

$6,199+46.0%

$7,714+17.3%

$3,806+137.7%

Admin fee / account holder

$39

$166-76.4%

$12,431-99.7%

$158-75.2%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.5 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$16,342

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

$1,952

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