Retirement plan

THE CATHAY GENERAL BANCORP 401(K) PROFIT SHARING PLAN

Name: CATHAY GENERAL BANCORP - THE CATHAY GENERAL BANCORP 401(K) PROFIT SHARING PLAN (2015) Form 5500
Creator: CATHAY GENERAL BANCORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE CATHAY GENERAL BANCORP 401(K) PROFIT SHARING PLAN, CATHAY GENERAL BANCORP

CATHAY GENERAL BANCORPEIN 95-4274680Plan #003PY 2015

9650 FLAIR DR., 5TH FLOOR - EL MONTE, CA 91731626-582-7211LinkedIn1001-5000 employees

Other plans on this EIN

1 filing

#002Retirement-$31.0M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$87.6M

-10.4% from 2016

Total participants

1,202

-1.3% from 2016

Average account balance

$81,568

-12.3% from 2016

Annual return

2.47%

-5.53 pp from 2016

Benchmarks

See 1,335 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,335 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$259.57M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

1,624

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.

86.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$210

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
PENSION ARCHITECTS ADVISORY GROUP1+ years Service code 17 11601 WILSHIRE BOULEVARD · LOS ANGELES, CA 90025	Pension Consulting	$284,472
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 18 · EIN 42-1558009	Shareholder servicing fees; Direct pa...	$47,068
DIGITAL RETIREMENT SOLUTIONS, INC.1+ years Service code 12 · EIN 84-1477138	Recordkeeping fees; Participant commu...	$26,931

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

1 tripped

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

$358K

$360 / participant

Investment mgmt$284K79.4%
Contract admin$27K7.5%
Other / not subdivided$47K13.1%

% of EOY assets

0.409%

all-in expense ratio

Categories reported

2 / 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: FARBER HASS HURLEY, LLP
Auditor EIN: 204207759
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,568

$68,413+19.2%

$123,105-33.7%

$55,191+47.8%

Participation rate

87.1%

84.5%+2.6pp

86.8%+0.4pp

69.2%+18.0pp

Annual return

2.47%

6.30%-3.8pp

13.22%-10.7pp

10.78%-8.3pp

Employer contribution / active EE

$2,041

$3,050-33.1%

$5,151-60.4%

$1,899+7.5%

Participant deferral / active EE

$6,182

$4,490+37.7%

$6,229-0.8%

$3,046+102.9%

Admin fee / account holder

$334

$88+280.1%

$9,014-96.3%

$91+267.7%

Provider

Service type

Compensation

PENSION ARCHITECTS ADVISORY GROUP1+ years

Service code 17

11601 WILSHIRE BOULEVARD · LOS ANGELES, CA 90025

Pension Consulting

$284,472

CHARLES SCHWAB & CO., INC.1+ years

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 18 · EIN 42-1558009

Shareholder servicing fees; Direct pa...

$47,068

DIGITAL RETIREMENT SOLUTIONS, INC.1+ years

Service code 12 · EIN 84-1477138

Recordkeeping fees; Participant commu...

$26,931

THE CATHAY GENERAL BANCORP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CATHAY GENERAL BANCORP 401(K) PROFIT SHARING 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