# Blue Foundry Bank 401(k) Plan
Source: https://planprovider.pro/companies/blue-foundry-bank-401k-plan

> Blue Foundry Bank's 401(k) plan: 227 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Blue Foundry Bank

- **Sponsor EIN:** 220780922

- **Sponsor Address:** 19 PARK AVENUE, RUTHERFORD, NJ, 07070

- **Plan Type:** 401(k)

- **Total Participants:** 227

- **Total Assets:** $18.7M

## 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.|

| 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|$49,963|—|$49,963|

| PENTEGRA SERVICES, INC.|CONTRACT ADMIN|$12,083|—|$12,083|

| PKF O'CONNOR DAVIES, LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [PKF O'CONNOR DAVIES, LLP](https://planprovider.pro/provider/bpas) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $62,046

- **Estimated Expense Ratio:** 0.332% 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|$53,819|—|$53,819|—|—|

| 2023|$45,404|—|$45,404|—|—|

| 2022|$38,927|—|$38,927|—|—|

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