Plan Snapshot
- Plan Sponsor: Blue Foundry Bank
- Sponsor EIN: 220780922
- Sponsor Address: 19 PARK AVENUE, RUTHERFORD, NJ, 07070
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 296
- Total Assets: $21.4M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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. |
|---|---|---|---|---|
| 2025 | 296 | $21.4M | $0 | $0 |
| 2024 | 227 | $18.7M | $766,344 | $1.2M |
| 2023 | 181 | $16.6M | $760,999 | $1.3M |
| 2022 | 195 | $15.0M | $790,684 | $1.3M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE CO. | Recordkeeper | $33,326 | — | $33,326 |
| PENTEGRA SERVICES, INC. | Other Service Provider | $12,822 | — | $12,822 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $46,148
- Estimated Expense Ratio: 0.216% 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 |
|---|---|---|---|---|---|
| 2025 | $2,777,531 | — | $38,309 | — | — |
| 2024 | $53,819 | — | $53,819 | — | — |
| 2023 | $45,404 | — | $45,404 | — | — |
| 2022 | $38,927 | — | $38,927 | — | — |