Retirement plan

BANK OF HOPE 401(K) RETIREMENT PLAN

Name: BANK OF HOPE - BANK OF HOPE 401(K) RETIREMENT PLAN (2018) Form 5500
Creator: BANK OF HOPE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANK OF HOPE 401(K) RETIREMENT PLAN, BANK OF HOPE

BANK OF HOPEEIN 95-3972168Plan #001PY 2018

3200 WILSHIRE BLVD., SUITE 610 - LOS ANGELES, CA 90010213-639-1700bankofhope.comLinkedIn1001-5000 employeesbanking

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$108.7M

-14.6% from 2016

Total participants

1,959

+0.2% from 2016

Average account balance

$62,164

-12.1% from 2016

Annual return

-3.45%

-7.35 pp from 2016

Benchmarks

See 547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort547 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$252.47M

Not enough data

1 years with asset history on file

Average account balance

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

$141K

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.

1,788

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.

90.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.14M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+16.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$124

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 4 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS4+ years Service code 12 · EIN 13-3689044	Finders' fees / placement fees; Sales...	$160,362
RAYMOND JAMES FINANCIAL SERVICES3 years Service code 27 · EIN 59-2937883	Advisory (Plan)	$53,125
VASQUEZ & COMPANY LLP1 year Service code 10 801 SOUTH GRAND AVE · LOS ANGELES, CA 90017	Accounting	$32,770
NATIONAL FINANCIAL SERVICES4+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

Plan features

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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$246K

$169 / participant

Investment mgmt$53K21.6%
Other / not subdivided$193K78.4%

% of EOY assets

0.226%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: VASQUEZ & COMPANY LLP
Auditor EIN: 330700332
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,164

$82,546-24.7%

$140,019-55.6%

$75,289-17.4%

Participation rate

85.6%

88.4%-2.8pp

87.5%-1.9pp

72.4%+13.1pp

Annual return

-3.45%

-0.36%-3.1pp

651.19%-654.6pp

-0.04%-3.4pp

Employer contribution / active EE

$3,675

$3,856-4.7%

$5,605-34.4%

$2,405+52.8%

Participant deferral / active EE

$6,734

$5,731+17.5%

$6,927-2.8%

$3,739+80.1%

Admin fee / account holder

$141

$86+64.2%

$10,705-98.7%

$102+37.6%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS4+ years

Service code 12 · EIN 13-3689044

Finders' fees / placement fees; Sales...

$160,362

RAYMOND JAMES FINANCIAL SERVICES3 years

Service code 27 · EIN 59-2937883

Advisory (Plan)

$53,125

VASQUEZ & COMPANY LLP1 year

Service code 10

801 SOUTH GRAND AVE · LOS ANGELES, CA 90017

Accounting

$32,770

NATIONAL FINANCIAL SERVICES4+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

BANK OF HOPE 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANK OF HOPE 401(K) RETIREMENT 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