Plan Snapshot
- Plan Sponsor: Heritage Commerce Corp
- Sponsor EIN: 770469558
- Sponsor Address: 224 AIRPORT PARKWAY, SAN JOSE, CA, 95110
- Plan Type: 401(k)
- Total Participants: 343
- Total Assets: $87.1M
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 | 343 | $87.1M | $964,359 | $3.8M |
| 2023 | 349 | $77.5M | $948,289 | $3.7M |
| 2022 | 326 | $65.8M | $941,970 | $3.6M |
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 |
|---|---|---|---|---|
| CBIZ INVESTMENT ADVISORY SERVICES L | INVESTMENT ADVISOR | $55,866 | — | $55,866 |
| CAPITAL GROUP RETIREMENT PLAN SVCS. | RECORDKEEPER | $37,461 | — | $37,461 |
| CROWE LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $93,327
- Estimated Expense Ratio: 0.107% 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 | $89,801 | — | — | — | — |
| 2023 | $83,382 | — | — | — | — |
| 2022 | $84,167 | — | $84,167 | — | — |