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 (2023) 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 2023

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

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$75.8M

+28.3% from 2022

Total participants

625

+6.1% from 2022

Average account balance

$130,074

+20.0% from 2022

Annual return

29.45%

+49.88 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$18,406
STRATEGIC ADVISORS, INC.8 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$17,458

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$36K

$100 / participant

Recordkeeping$18K50.4%
Investment mgmt$17K48.8%
Contract admin$3000.8%

% of EOY assets

0.047%

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: SC&H ATTEST SERVICES, P.C.,
Auditor EIN: 521743645
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$130,074

$100,272+29.7%

$170,057-23.5%

$74,473+74.7%

Participation rate

88.2%

87.4%+0.9pp

87.0%+1.2pp

70.7%+17.5pp

Annual return

29.45%

66.12%-36.7pp

53.42%-24.0pp

34.36%-4.9pp

Employer contribution / active EE

$7,084

$4,266+66.1%

$6,790+4.3%

$2,638+168.5%

Participant deferral / active EE

$10,568

$7,147+47.9%

$10,411+1.5%

$4,530+133.3%

Admin fee / account holder

$61

$235-73.8%

$12,826-99.5%

$347-82.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$18,406

STRATEGIC ADVISORS, INC.8 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$17,458

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