Retirement plan

STANDARD CHARTERED BANK EMPLOYEES CAPITAL ACCUMULATION PLAN

Name: STANDARD CHARTERED BANK - STANDARD CHARTERED BANK EMPLOYEES CAPITAL ACCUMULATION PLAN (2023) Form 5500
Creator: STANDARD CHARTERED BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STANDARD CHARTERED BANK EMPLOYEES CAPITAL ACCUMULATION PLAN, STANDARD CHARTERED BANK

STANDARD CHARTERED BANKEIN 94-1595409Plan #002PY 2023

2 GATEWAY CENTER, SUITE 1302 - NEWARK, NJ 07102212-667-0381LinkedIn11-50 employeesfinancial services

Other plans on this EIN

1 filing

#001Retirement-$170.6M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$347.2M

-13.4% from 2016

Total participants

1,873

-8.7% from 2016

Average account balance

$187,598

-5.1% from 2016

Annual return

18.76%

-9.89 pp from 2016

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$407.33M

Not enough data

1 years with asset history on file

Average account balance

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

$223K

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.

1,828

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$30.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+15.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$103

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 3 by compensation

Provider	Service type	Compensation
THE VANGUARD GROUP, INC.3 years Service code 15 · EIN 23-1945930	Recordkeeping	$133,084
FORVIS, LLP3 years Filed as: MAZARS USA LLP Service code 99 · EIN 13-1459550	Other Fees	$56,600
DELOITTE & TOUCHE LLP3 years Service code 99 · EIN 13-3891517	Other Fees	$28,015

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
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.
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

$215K

$185 / participant

Recordkeeping$128K59.4%
Investment mgmt$3K1.3%
Other trustee fees$28K13.0%
Other / not subdivided$57K26.3%

% of EOY assets

0.062%

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: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $56,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$187,598

$112,711+66.4%

$170,055+10.3%

$80,187+134.0%

Participation rate

98.1%

87.4%+10.7pp

87.0%+11.1pp

72.9%+25.2pp

Annual return

18.76%

67.06%-48.3pp

53.43%-34.7pp

40.40%-21.6pp

Employer contribution / active EE

$11,763

$4,488+162.1%

$6,790+73.2%

$2,980+294.8%

Participant deferral / active EE

$13,995

$7,861+78.0%

$10,410+34.4%

$5,016+179.0%

Admin fee / account holder

$116

$99+17.0%

$12,828-99.1%

$145-19.8%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.3 years

Service code 15 · EIN 23-1945930

Recordkeeping

$133,084

FORVIS, LLP3 years

Filed as: MAZARS USA LLP

Service code 99 · EIN 13-1459550

Other Fees

$56,600

DELOITTE & TOUCHE LLP3 years

Service code 99 · EIN 13-3891517

Other Fees

$28,015

STANDARD CHARTERED BANK EMPLOYEES CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STANDARD CHARTERED BANK EMPLOYEES CAPITAL ACCUMULATION 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