Plan Snapshot
- Plan Sponsor: Banco Santander S.A. New York Branch
- Sponsor EIN: 132617929
- Sponsor Address: 45 EAST 53RD STREET, NEW YORK, NY, 10022
- Plan Type: DB
- Total Participants: 61
- Total Assets: $123.3M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 61 | $123.3M | $0 | $0 |
| 2023 | 282 | $162.1M | $818,000 | $0 |
| 2022 | 297 | $153.9M | $25.9M | $0 |
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 |
|---|---|---|---|---|
| TOWERS WATSON INVESTMENT SERVICES | INVESTMENT CONSULTANT | $884,243 | — | $884,243 |
| WILLIS TOWERS WATSON US LLC | NONE | $495,587 | — | $495,587 |
| KORN FERRY (US) | NONE | $49,280 | — | $49,280 |
| PRINCIPAL TRUST COMPANY | TRUSTEE | $40,119 | — | $40,119 |
| HERBEIN + COMPANY, INC. | NONE | $24,000 | — | $24,000 |
| BLACKROCK INSTITUTIONAL TRUST CO | INVESTMENT MANAGER | $12,488 | — | $12,488 |
| STATE STREET GLOBAL ADVSRS TRUST CO | INVESTMENT MANAGER | $7,105 | — | $7,105 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WILLIS TOWERS WATSON US LLC — NONE
- PRINCIPAL TRUST COMPANY — TRUSTEE
- HERBEIN + COMPANY, INC. — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,512,822
- Estimated Expense Ratio: 1.227% 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 | $1,641,293 | $903,836 | — | $24,000 | — |
| 2023 | $493,080 | $242,615 | — | $22,500 | — |
| 2022 | $1,399,448 | $354,452 | $36,084 | — | $145,784 |