Plan Snapshot
- Plan Sponsor: American Business Bank
- Sponsor EIN: 911907220
- Sponsor Address: 400 S. HOPE STREET, LOS ANGELES, CA, 90071
- Plan Type: 401(k)
- Total Participants: 285
- Total Assets: $42.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 285 | $42.8M | $912,592 | $2.4M |
| 2023 | 236 | $37.5M | $864,139 | $2.3M |
| 2022 | 225 | $30.8M | $815,983 | $2.2M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| ACTUARIAL BENEFITS CORPORATION | OTHER SERVICES | — | $18,463 | $18,463 |
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $7,734 | — | $7,734 |
| WITHUMSMITH+BROWN, PC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WITHUMSMITH+BROWN, PC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $26,197
- Estimated Expense Ratio: 0.061% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $7,734 | — | $7,734 | — | — |
| 2023 | $11,233 | — | $11,233 | — | — |
| 2022 | $64,687 | $3,363 | $61,324 | — | — |