Plan Snapshot
- Plan Sponsor: Customers Bank
- Sponsor EIN: 232892229
- Sponsor Address: 701 READING AVE., WEST READING, PA, 19611
- Plan Type: 401(k)
- Total Participants: 799
- Total Assets: $96.1M
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 | 799 | $96.1M | $3.1M | $9.4M |
| 2023 | 703 | $78.6M | $2.5M | $7.8M |
| 2022 | 935 | $79.8M | $3.2M | $9.6M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $101,115 | — | $101,115 |
| UBS FINANCIAL SERVICES INC | ADVISOR | $60,686 | — | $60,686 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $13,357 | — | $13,357 |
| DELOITTE & TOUCHE LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- UBS FINANCIAL SERVICES INC — ADVISOR
- STRATEGIC ADVISORS, INC. — ADVISOR
- DELOITTE & TOUCHE LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $175,158
- Estimated Expense Ratio: 0.182% 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 | $175,159 | $74,043 | — | — | — |
| 2023 | $159,981 | $68,382 | — | — | — |
| 2022 | $178,632 | $10,725 | — | — | — |