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

> Hanmi Bank's 401(k) plan: 547 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Hanmi Bank

- **Sponsor EIN:** 953689695

- **Sponsor Address:** 3660 WILSHIRE BLVD PH A, LOS ANGELES, CA, 90010

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

- **Total Participants:** 547

- **Total Assets:** $143.9M

## 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|547|$143.9M|$3.2M|$6.7M|

| 2023|561|$119.0M|$3.1M|$6.1M|

| 2022|589|$94.6M|$2.8M|$5.6M|

## 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|

| ADP, INC.|RECORD KEEPER|$65,869|—|$65,869|

| MORGAN STANLEY SMITH BARNEY|INVESTMENT/FINANCIAL ADVI|$49,107|—|$49,107|

| LAVINE, LOFGREN, MORRIS & ENGELBERG|INVESTMENT/FINANCIAL ADVI|$11,500|—|$11,500|

### Verified Provider Profiles

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

- [ADP, INC.](https://planprovider.pro/provider/adp-retirement-services) — RECORD KEEPER

- [MORGAN STANLEY SMITH BARNEY](https://planprovider.pro/provider/morgan-stanley) — INVESTMENT/FINANCIAL ADVI

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $126,476

- **Estimated Expense Ratio:** 0.088% 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|$126,476|$60,607|—|—|—|

| 2023|$127,076|$36,256|—|—|—|

| 2022|$121,470|—|—|—|—|

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