Smbc Manubank 401(k) Review & Grade
Smbc Manubank Savings System
Los Angeles, CAFinance & Insurance834 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,731Employer $ per active participant
$12,114Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$106.4MNet plan assets, end of year
$118,887Average balance per account
Score breakdown
- Employer generosity40.7 / 5081th percentile for employer $ per participant
- Low cost15.0 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 60th |
| Employee saving | 83th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Smbc Manubank put in about $6,731 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $5,613,994 |
| Participant (employee) contributions | $10,102,816 |
| Other contributions (incl. rollovers in) | $3,939,032 |
| Administrative expenses paid from the plan | $157,489 |
| Investment advisory & management fees | $56,250 |
| Benefits paid out | $8,782,099 |
| Net assets, start / end of year | $83.1M / $106.4M |
| Active participants, start / end of year | 779 / 889 |
| Participants with account balances | 895 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick |
Largest service providers (Schedule C)
| Capfinancial Partners LLC DBA Captr | $56,250 reported compensation |
| Empower Annuity Insurance Company O | $52,348 reported compensation |
| Cohnreznick LLP | $46,111 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015132333NAL0002479203001, received 2025-10-15, EIN 95-2221647, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.