Retirement plan

NORDEA BANK ABP, NEW YORK BRANCH SALARY SAVINGS AND PROFIT SHARING PLAN

Name: NORDEA BANK ABP, NEW YORK BRANCH - NORDEA BANK ABP, NEW YORK BRANCH SALARY SAVINGS AND PROFIT SHARING PLAN (2023) Form 5500
Creator: NORDEA BANK ABP, NEW YORK BRANCH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORDEA BANK ABP, NEW YORK BRANCH SALARY SAVINGS AND PROFIT SHARING PLAN, NORDEA BANK ABP, NEW YORK BRANCH

NORDEA BANK ABP, NEW YORK BRANCHEIN 98-1337846Plan #004PY 2023

1211 AVENUE OF THE AMERICAS, FLOOR 23 - NEW YORK, NY 10036212-318-9300

Prospect flagsHigh cashHigh assets / participant

How to read this page

Total assets (EOY)

$63.5M

+19.2% from 2022

Total participants

157

-0.6% from 2022

Average account balance

$406,742

+20.7% from 2022

Annual return

18.64%

+34.65 pp from 2022

Benchmarks

See 73 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Cohort73 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$68.02M

Not enough data

1 years with asset history on file

Average account balance

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

$469K

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.

145

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$36K

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

+13.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$89

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

See the 3-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,518

Plan features & details

Pension benefit codes2E2F2G2J2K2T3F3H3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$4K

$36 / participant

Recordkeeping$4K100.0%

% of EOY assets

0.006%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BDO USA, PC
Auditor EIN: 135381590
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$406,742

$458,960-11.4%

$169,993+139.3%

Participation rate

99.0%

84.2%+14.8pp

87.0%+12.0pp

Annual return

18.64%

12.01%+6.6pp

53.37%-34.7pp

Employer contribution / active EE

$17,262

$4,293+302.1%

$6,785+154.4%

Participant deferral / active EE

$16,922

$7,668+120.7%

$10,408+62.6%

Admin fee / account holder

$23

$63,551-100.0%

$12,815-99.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,518

NORDEA BANK ABP, NEW YORK BRANCH SALARY SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORDEA BANK ABP, NEW YORK BRANCH SALARY SAVINGS AND 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