# Customers Bank 401(k) Plan
Source: https://planprovider.pro/companies/customers-bank-401k-plan

> Customers Bank's 401(k) plan: 799 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/fidelity-investments) — RECORDKEEPER

- [UBS FINANCIAL SERVICES INC](https://planprovider.pro/provider/aspire-financial-services) — ADVISOR

- [STRATEGIC ADVISORS, INC.](https://planprovider.pro/provider/creative-planning) — ADVISOR

- [DELOITTE & TOUCHE LLP](https://planprovider.pro/provider/deloitte-and-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|—|—|—|

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