Retirement plan

SANTANDER 401(K) PLAN

Name: SANTANDER HOLDINGS USA, INC. - SANTANDER 401(K) PLAN (2018) Form 5500
Creator: SANTANDER HOLDINGS USA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SANTANDER 401(K) PLAN, SANTANDER HOLDINGS USA, INC.

SANTANDER HOLDINGS USA, INC.EIN 23-2453088Plan #002PY 2018

1130 BERKSHIRE BLVD. - WYOMISSING, PA 19610800-210-1426LinkedIn10001+ employeesbanking

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed April 14, 1998 (most recent of 4 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)

$728.5M

-8.9% from 2016

Total participants

13,673

+2.0% from 2016

Average account balance

$67,721

-8.3% from 2016

Annual return

-4.18%

-7.06 pp from 2016

Benchmarks

See 86 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort86 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.86B

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

14,730

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.

82.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$179.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+14.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$47

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 9 by compensation

Provider	Service type	Compensation
CALLAN ASSOCIATES1 year Filed as: CALLAN LLC Service code 28 · EIN 94-2192581	Investment Management	$63,654
CHARLES SCHWAB & CO., INC.1 year Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$52,797
STEVENS & LEE4+ years Filed as: STEVENS & LEE, PC Service code 29 · EIN 23-1886296	Legal	$45,805
ADP BROKER-DEALER1 year Filed as: ADP LLC Service code 28 · EIN 13-3036745	Investment Management	$20,510
WILLIS TOWERS WATSON US LLC1 year Filed as: TOWERS WATSON DELAWARE INC. Service code 28 · EIN 53-0181291	Investment Management	$20,000
CHARLES SCHWAB & CO., INC.4+ years Service code 33 · EIN 94-1737782	Securities brokerage; Direct payment ...	$5,626
LITTLER MENDELSON, P.C.1 year Filed as: LITTLER MENDELSON, PC Service code 29 · EIN 94-2602731	Legal	$5,225
CHARLES SCHWAB & CO., INC.4+ years Filed as: CHARLES SCHWAB BANK Service code 25 · EIN 42-1558009	Directed Trustee	$110
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO INC & AFFILIATE Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$208K

$19 / participant

Investment mgmt$64K30.6%
Other / not subdivided$144K69.4%

% of EOY assets

0.029%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HERBEIN & COMPANY, INC.
Auditor EIN: 232415973
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,721

$96,381-29.7%

$140,019-51.6%

$73,367-7.7%

Participation rate

73.0%

90.1%-17.1pp

87.5%-14.5pp

69.5%+3.6pp

Annual return

-4.18%

-4.30%+0.1pp

651.19%-655.4pp

173.45%-177.6pp

Employer contribution / active EE

$2,822

$4,168-32.3%

$5,605-49.7%

$2,499+12.9%

Participant deferral / active EE

$5,354

$6,186-13.4%

$6,927-22.7%

$4,033+32.8%

Admin fee / account holder

$19

$100-80.6%

$10,705-99.8%

$68-71.7%

Provider

Service type

Compensation

CALLAN ASSOCIATES1 year

Filed as: CALLAN LLC

Service code 28 · EIN 94-2192581

Investment Management

$63,654

CHARLES SCHWAB & CO., INC.1 year

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$52,797

STEVENS & LEE4+ years

Filed as: STEVENS & LEE, PC

Service code 29 · EIN 23-1886296

Legal

$45,805

ADP BROKER-DEALER1 year

Filed as: ADP LLC

Service code 28 · EIN 13-3036745

Investment Management

$20,510

WILLIS TOWERS WATSON US LLC1 year

Filed as: TOWERS WATSON DELAWARE INC.

Service code 28 · EIN 53-0181291

Investment Management

$20,000

CHARLES SCHWAB & CO., INC.4+ years

Service code 33 · EIN 94-1737782

Securities brokerage; Direct payment ...

$5,626

LITTLER MENDELSON, P.C.1 year

Filed as: LITTLER MENDELSON, PC

Service code 29 · EIN 94-2602731

Legal

$5,225

CHARLES SCHWAB & CO., INC.4+ years

Filed as: CHARLES SCHWAB BANK

Service code 25 · EIN 42-1558009

Directed Trustee

$110

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO INC & AFFILIATE

Service code 59

Shareholder Servicing

SANTANDER 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SANTANDER 401(K) 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