Retirement plan

AMERICAN EXPRESS RETIREMENT SAVINGS PLAN

Name: AMERICAN EXPRESS COMPANY AND ITS PARTICIPATING SUBSIDIARIES - AMERICAN EXPRESS RETIREMENT SAVINGS PLAN (2020) Form 5500
Creator: AMERICAN EXPRESS COMPANY AND ITS PARTICIPATING SUBSIDIARIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN EXPRESS RETIREMENT SAVINGS PLAN, AMERICAN EXPRESS COMPANY AND ITS PARTICIPATING SUBSIDIARIES

AMERICAN EXPRESS COMPANY AND ITS PARTICIPATING SUBSIDIARIESEIN 13-4922250Plan #002PY 2020

200 VESEY STREET 01-35-03 - NEW YORK, NY 10285212-640-2000

Other plans on this EIN

1 filing

#005Retirement-$1.15B assets

Prospect flagsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed November 15, 2013 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$7143.5M

+14.5% from 2019

Total participants

35,133

-1.8% from 2019

Average account balance

$206,186

+15.3% from 2019

Annual return

16.20%

-6.65 pp from 2019

Benchmarks

See 76 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort76 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.51B

Not enough data

1 years with asset history on file

Average account balance

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

$269K

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.

39,077

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$627.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+17.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$368

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

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Service providers

Top 10 of 20 by compensation

Provider	Service type	Compensation
SANDS CAPITAL MANAGEMENT, LLC6+ years Filed as: SANDS CAPITAL MANAGEMENT Service code 28 · EIN 54-1578408	Investment Management	$2,241,816
WELLS FARGO BANK, N.A.6+ years Service code 15 · EIN 94-1347393	Recordkeeping	$1,828,911
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY INVESTMENT MGT Service code 28 · EIN 13-3040307	Investment Management	$1,297,582
BRIDGEWAY CAPITAL MANAGEMENT, INC.4 years Service code 28 · EIN 76-0409332	Investment Management	$963,254
BRANDYWINE GLOBAL INVESTMENT MGMT4 years Filed as: BRANDYWINE GLOBAL INV MGT LLC Service code 28 · EIN 51-0294065	Investment Management	$874,600
JP MORGAN INVESTMENT MANAGEMENT INC5+ years Service code 28 · EIN 13-3200244	Investment Management	$795,709
METROPOLITAN WEST ASSET MANAGEMENT6+ years Filed as: TCW ASSET MANAGEMENT COMPANY Service code 28 · EIN 95-2642764	Investment Management	$745,607
WELLINGTON TRUST COMPANY6+ years Filed as: WELLINGTON MANAGEMENT COMPANY, LLP Service code 28 · EIN 04-2683227	Investment Management	$739,664
TIMES SQUARE CAPITAL MANAGEMENT6+ years Service code 28 · EIN 20-1665304	Investment Management	$688,027
WELLS FARGO BANK, N.A.5+ years Filed as: WELLS CAPITAL MANAGEMENT Service code 28 · EIN 95-3692822	Investment Management	$577,209

Plan features & details

Pension benefit codes2E2F2G2I2J2K2O2R2S2T3F3H3J

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.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

2 tripped

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

$13.2M

$582 / participant

Investment mgmt$12M87.1%
Contract admin$2M12.4%
Other / not subdivided$69K0.5%

% of EOY assets

0.185%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCCONNELL & JONES LLP
Auditor EIN: 760488832
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$206,186

$139,268+48.1%

$177,840+15.9%

$106,273+94.0%

Participation rate

97.9%

91.6%+6.3pp

87.7%+10.1pp

70.8%+27.1pp

Annual return

16.20%

17.20%-1.0pp

48.32%-32.1pp

21.70%-5.5pp

Employer contribution / active EE

$8,367

$4,832+73.1%

$5,919+41.4%

$2,722+207.3%

Participant deferral / active EE

$9,085

$7,227+25.7%

$7,714+17.8%

$4,601+97.4%

Admin fee / account holder

$381

$97+293.6%

$12,431-96.9%

$78+386.4%

Provider

Service type

Compensation

SANDS CAPITAL MANAGEMENT, LLC6+ years

Filed as: SANDS CAPITAL MANAGEMENT

Service code 28 · EIN 54-1578408

Investment Management

$2,241,816

WELLS FARGO BANK, N.A.6+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$1,828,911

MORGAN STANLEY SMITH BARNEY4 years

Filed as: MORGAN STANLEY INVESTMENT MGT

Service code 28 · EIN 13-3040307

Investment Management

$1,297,582

BRIDGEWAY CAPITAL MANAGEMENT, INC.4 years

Service code 28 · EIN 76-0409332

Investment Management

$963,254

BRANDYWINE GLOBAL INVESTMENT MGMT4 years

Filed as: BRANDYWINE GLOBAL INV MGT LLC

Service code 28 · EIN 51-0294065

Investment Management

$874,600

JP MORGAN INVESTMENT MANAGEMENT INC5+ years

Service code 28 · EIN 13-3200244

Investment Management

$795,709

METROPOLITAN WEST ASSET MANAGEMENT6+ years

Filed as: TCW ASSET MANAGEMENT COMPANY

Service code 28 · EIN 95-2642764

Investment Management

$745,607

WELLINGTON TRUST COMPANY6+ years

Filed as: WELLINGTON MANAGEMENT COMPANY, LLP

Service code 28 · EIN 04-2683227

Investment Management

$739,664

TIMES SQUARE CAPITAL MANAGEMENT6+ years

Service code 28 · EIN 20-1665304

Investment Management

$688,027

WELLS FARGO BANK, N.A.5+ years

Filed as: WELLS CAPITAL MANAGEMENT

Service code 28 · EIN 95-3692822

Investment Management

$577,209

AMERICAN EXPRESS RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN EXPRESS RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

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