Retirement plan

OAKNORTH 401(K) PLAN

Name: OAKNORTH - OAKNORTH 401(K) PLAN (2024) Form 5500
Creator: OAKNORTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OAKNORTH 401(K) PLAN, OAKNORTH

OAKNORTHEIN 37-1870003Plan #001PY 2024

445 PARK AVENUE, 6TH FLOOR - NEW YORK, NY 10022646-246-8840

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$919K

+24.3% from 2023

Total participants

+9.1% from 2023

Average account balance

$57,446

+24.3% from 2023

Annual return

12.82%

-6.23 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$919K

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$91K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$930

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3C3D3H

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.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$15K

$875 / participant

Other / not subdivided$15K100.0%

% of EOY assets

1.619%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,446

$201,264-71.5%

$184,185-68.8%

$145,978-60.6%

Participation rate

52.9%

87.5%-34.6pp

86.8%-33.9pp

80.3%-27.4pp

Annual return

12.82%

29.00%-16.2pp

28.81%-16.0pp

550.52%-537.7pp

Employer contribution / active EE

$1,668

$7,021-76.2%

$6,426-74.0%

$4,662-64.2%

Participant deferral / active EE

$3,702

$9,806-62.3%

$9,132-59.5%

$6,690-44.7%

Admin fee / account holder

$930

$16,376-94.3%

$13,909-93.3%

$13,400-93.1%

OAKNORTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OAKNORTH 401(K) PLAN

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